Under what condition can Bevaris Alliance withhold its consent to a transfer?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
16.11 Transfer criteria. Any transfer to a third party pursuant to this clause 16 shall be subject to the following criteria being satisfied:
(a) the Franchisor having given its written consent to the transfer (not to be unreasonably withheld if the remainder of the criteria set out in this clause 16.11 are satisfied);
(b) the Franchisee and the Individual have both complied with all the terms and conditions of this agreement;
(c) the proposed purchaser (and, in the case of an entity, includes its shareholders and directors) meets the Franchisor's current minimum standards with respect to prior business experience, financial standing and recruitment criteria;
(d) all monies due to the Franchisor have been paid;
(e) the proposed purchaser undertakes and passes initial training;
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
According to the 2024 FDD, Bevaris Alliance can withhold its written consent to a franchise transfer if certain criteria are not met. Specifically, Bevaris Alliance will not unreasonably withhold consent if the remaining criteria outlined in clause 16.11 of the franchise agreement are satisfied.
These criteria include the franchisee and the individual complying with all terms and conditions of the agreement. Additionally, the proposed purchaser (including its shareholders and directors if the purchaser is an entity) must meet Bevaris Alliance's current minimum standards regarding prior business experience, financial standing, and recruitment criteria.
Furthermore, all monies due to Bevaris Alliance must be paid, and the proposed purchaser must undertake and pass initial training. Meeting these conditions is essential for a franchisee seeking to transfer their Bevaris Alliance franchise to a third party, as failure to do so may result in the franchisor withholding consent for the transfer.