What is the reference for the default curing process for Bft franchisees?
Bft Franchise · 2025 FDDAnswer from 2025 FDD Document
In addition to the provisions of Section 15.1.A, if Franchisee shall be in default under the terms of this Agreement and the default shall not be cured or remedied (to Franchisor's satisfaction) within thirty (30) days after receipt of written notice from Franchisor (or 10 days' prior notice in the event of a default that is described in Subsections (6), (7) or (8) below), in addition to all other remedies available to Franchisor at law or in equity, Franchisor may immediately terminate this Agreement on written notice to Franchisee.
Franchisee shall be in default, and each of the following shall constitute good cause for termination under this Section:
- (1) Failure, refusal or neglect by Franchisee to obtain Franchisor's prior written acceptance, approval or consent any time such acceptance, approval, or consent is required by this Agreement;
Source: Item 23 — RECEIPTS (FDD pages 79–265)
What This Means (2025 FDD)
According to Bft's 2025 Franchise Disclosure Document, a franchisee typically has 30 days to cure a default after receiving written notice from Bft. However, this cure period is reduced to 10 days for defaults related to specific subsections regarding failure, refusal, or neglect to obtain prior written acceptance, approval, or consent from Bft when required by the agreement.
If the franchisee fails to cure the default within the specified timeframe, Bft has the right to immediately terminate the Franchise Agreement. This termination is in addition to any other legal or equitable remedies available to Bft. The franchisee is considered in default if they do not obtain required prior written acceptance, approval, or consent from Bft.
It's important to note that certain defaults allow for immediate termination by Bft without any opportunity for the franchisee to cure the issue. These include instances such as material misrepresentations in the application, insolvency, bankruptcy, abandonment of the studio, or unauthorized alteration of the Approved Services.