When does the term of the Baya Bar Development Agreement expire?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
- **3.
TERM.** Unless sooner terminated in accordance with this Agreement, the term of this Agreement and all rights granted by Franchisor under this Agreement shall expire on the date on which Developer successfully and in a timely manner has complied with all of Developer's obligations hereunder and has completed the development obligations in accordance with the Development Schedule.
Source: Item 23 — RECEIPTS (FDD pages 56–189)
What This Means (2024 FDD)
According to Baya Bar's 2024 Franchise Disclosure Document, the Development Agreement's term and all rights granted by Baya Bar will expire when the developer has successfully completed all obligations and the development schedule in a timely manner, unless the agreement is terminated earlier.
This means that the Development Agreement does not have a fixed expiration date. Instead, its term is contingent upon the developer fulfilling all requirements outlined in the agreement, including the development schedule for opening Baya Bar outlets. A prospective developer should carefully review the development schedule and other obligations to understand the timeline and conditions for fulfilling the agreement.
It is important for a potential Baya Bar developer to understand that failure to meet the obligations and development schedule can lead to early termination of the agreement. The developer should also consider potential challenges or delays that could impact their ability to meet the schedule and discuss these with Baya Bar during their due diligence.