What is the document described in this section called for Baya Bar franchisees?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
A copy of all proposed agreements regarding the franchise offering are included in this Disclosure Document, as follows:
- Exhibit B The Franchise Agreement and all attachments to it (Marks, Territory, General Release, ACH Authorization, Collateral Assignment of Lease, Statement of Ownership Interests in Franchisee, Telephone, Internet, and Social Media Listing Assignment Agreements, Spousal Guaranty, and Confidentiality and Non-Compete Agreement).
- Exhibit C -- Multi-Unit Development Agreement
Source: Item 22 — CONTRACTS (FDD page 56)
What This Means (2024 FDD)
According to Baya Bar's 2024 Franchise Disclosure Document, the document described in Item 22, Contracts, is called the Franchise Agreement. Exhibit B of the disclosure document contains the Franchise Agreement and all attachments to it, including documents related to marks, territory, general release, ACH authorization, collateral assignment of lease, statement of ownership interests in franchisee, telephone, internet, and social media listing assignment agreements, spousal guaranty, and confidentiality and non-compete agreement.
The Franchise Agreement grants the franchisee the right to operate a Baya Bar acai shop franchise at a single location within a designated territory. The franchisee must use only the marks licensed under the agreement and operate in strict conformity with the Baya Bar system. Baya Bar retains the right to modify and improve the system over time.
Prospective franchisees should carefully review the Franchise Agreement and all associated exhibits, as these documents outline the full scope of their rights and obligations. Understanding the terms of the agreement is crucial before signing any binding documents or making payments to Baya Bar.