Regarding Bevaris Alliance franchise assignments, when is disclosure pursuant to clause 23.3(d) made?

According to the 2024 Bevaris Alliance Franchise Disclosure Document, disclosure pursuant to clause 23.3(d) is made after the franchisee and individual have been notified of the proposed assignee's identity. Clause 23.3(d) allows Bevaris Alliance to disclose information about the franchise agreement, its subject matter, the negotiations, and the other party to a proposed assignee if it is reasonably necessary for the proposed assignment.

This means that Bevaris Alliance can share confidential information with potential buyers or entities to whom they might assign the franchise agreement. However, they must first inform the current franchisee and the individual involved about the identity of this proposed assignee. This provision ensures that the franchisee is aware of who might be taking over the agreement and has some level of transparency regarding the assignment process.

For a prospective franchisee, this clause highlights the importance of understanding the conditions under which Bevaris Alliance can transfer the agreement and what information can be shared with potential assignees. It also provides a degree of protection by ensuring they are informed about the identity of any proposed assignee before sensitive information is disclosed.