What is the required advance notice Beverly Anns Cookie must give before selling repossessed equipment?
Beverly_Anns_Cookie Franchise · 2025 FDDAnswer from 2025 FDD Document
You agree (a) that we only need to give you 10 days advance notice of any sale and no notice of advertising, (b) to pay all of the costs we incur to enforce our rights against you including attorney's fees, and (c) that we will retain all of our rights against you even if we do not choose to enforce them at the time of your default.
Source: Item 22 — CONTRACTS (FDD page 57)
What This Means (2025 FDD)
According to the 2025 Beverly Anns Cookie Franchise Disclosure Document, if Beverly Anns Cookie repossesses a franchisee's equipment, they are required to provide the franchisee with at least 10 days advance notice before selling the equipment. This notice does not need to include advertising details.
This means that if a Beverly Anns Cookie franchisee defaults on their obligations and Beverly Anns Cookie takes possession of the equipment, the franchisee will receive a 10-day warning before the equipment is sold. This allows the franchisee a short window to potentially remedy the situation or prepare for the sale.
It is important for prospective franchisees to understand the conditions under which equipment can be repossessed and the implications of such an event. This includes understanding their rights and obligations in the event of repossession and sale of equipment.