Is the Better Homes And Gardens Real Estate Note considered confidential?
Better_Homes_And_Gardens_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
I have received a disclosure document with a date of issuance of March 28, 2025 that included the following Exhibits:
- A. State Addenda to the Franchise Disclosure Document;
- B. Federal and State Regulatory Authorities; Registered Agents for Service of Process;
- C. Standard Real Estate Franchise Agreement, including Guaranty of Payment and Performance, Security Agreement and State Addenda to the Franchise Agreement;
- C-1. Location Addendum to Franchise Agreement;
- C-2. Term Extension Addendum to Franchise Agreement;
- C-3. Limited Purpose Office Addendum;
- C-4. General Release Agreement;
- D-1. Conversion Promissory Note;
- D-2 Expansion Promissory Note;
- D-3 Security Agreement;
- E. Confidentiality Agreement;
Source: Item 22 — CONTRACTS (FDD page 76)
What This Means (2025 FDD)
According to the 2025 Better Homes And Gardens Real Estate Franchise Disclosure Document, the Conversion Promissory Note and Expansion Promissory Note are listed as separate exhibits. There is also a separate Confidentiality Agreement listed as an exhibit.
While the Conversion Promissory Note and Expansion Promissory Note themselves are not explicitly labeled as confidential, the existence of a separate Confidentiality Agreement suggests that certain information related to the Better Homes And Gardens Real Estate franchise may be considered confidential. This is a common practice in franchising, as franchisors often have proprietary information and trade secrets they want to protect.
A prospective franchisee should carefully review the Confidentiality Agreement and consult with Better Homes And Gardens Real Estate to understand what specific information is covered and what obligations they would have regarding confidentiality. It would be prudent to seek legal counsel to fully understand the implications of the Confidentiality Agreement before signing any franchise agreement.