What is the issuance date of the Baya Bar Franchise Disclosure Document?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
Issuance Date: April 30, 2024
I received a Disclosure Document dated April 30, 2024 that included the following Exhibits:
EXHIBIT A: List of State Franchise Administrators and Agents for Service of Process
Source: Item 22 — CONTRACTS (FDD page 56)
What This Means (2024 FDD)
According to Baya Bar's 2024 Franchise Disclosure Document, the issuance date is April 30, 2024. This date is important because it signifies when the FDD was finalized and made available to prospective franchisees.
Franchisors are required to provide an FDD to potential franchisees at least 14 calendar days before they sign any binding agreement or make any payment related to the franchise. This allows franchisees adequate time to review the document and seek professional advice. New York has a slightly different rule, requiring the FDD to be received at the earlier of the first personal meeting or 10 business days before signing any agreement or making a payment.
The FDD includes various exhibits, such as a list of state franchise administrators, the franchise agreement, financial statements, and other relevant documents. Franchisees should verify that they received a complete FDD package with all listed exhibits. If a franchisee believes the FDD was not delivered on time, or if it contains false or misleading information, they should report it to the Federal Trade Commission and their state authority.