When signing the Benihana Franchise Disclosure Document receipt, does the franchisee need to indicate the date they received it?

According to Benihana's 2024 Franchise Disclosure Document, when signing the receipt for the Franchise Disclosure Document, the franchisee must print their name and date the receipt. The franchisee must return one copy of the receipt to Benihana National Corp. and keep the other copy for their records.

This step is crucial for Benihana to verify that the franchisee received the FDD within the legally mandated timeframe, which is generally 14 calendar days before signing a binding agreement or making a payment. Some states, such as Maryland, New York, and Rhode Island, require that the FDD be given at the earlier of the first personal meeting or 10 business days before the execution of the franchise agreement or payment of any consideration. Michigan, Oregon, and Washington require at least 10 business days before signing any binding agreement or payment.

By dating the receipt, the franchisee acknowledges they received the FDD, and Benihana can demonstrate compliance with federal and state disclosure laws. Failure to provide the FDD on time or if it contains false or misleading information, a violation of federal and state law may have occurred and should be reported to The Federal Trade Commission, Washington D.C. 20580 and the state agency listed on Exhibit A.