Whose execution date is considered the date of execution for the Bft Franchise Agreement?
Bft Franchise · 2025 FDDAnswer from 2025 FDD Document
18.1 THE SUBMISSION OF THIS AGREEMENT DOES NOT CONSTITUTE AN OFFER AND THIS AGREEMENT SHALL BECOME EFFECTIVE ONLY UPON THE EXECUTION HEREOF BY THE FRANCHISOR AND THE FRANCHISEE. THE DATE OF EXECUTION BY THE FRANCHISOR SHALL BE CONSIDERED TO BE THE DATE OF EXECUTION OF THIS AGREEMENT.
- 18.2 THIS AGREEMENT SHALL NOT BE BINDING ON THE FRANCHISOR UNLESS AND UNTIL IT SHALL HAVE BEEN ACCEPTED AND SIGNED BY AN AUTHORIZED OFFICER OF THE FRANCHISOR.
Source: Item 23 — RECEIPTS (FDD pages 79–265)
What This Means (2025 FDD)
According to Bft's 2025 Franchise Disclosure Document, the date that Bft signs the Franchise Agreement is considered the date of execution of the agreement. The agreement becomes effective only when both Bft and the franchisee have signed it. This is important for prospective franchisees to understand because the effective date triggers various obligations and deadlines outlined in the agreement, such as lease execution and studio opening timelines.
Specifically, the Bft Franchise Agreement outlines that the franchisee must execute a written premises lease agreement accepted by Bft for the authorized location no later than six months after the execution of the agreement. Additionally, the franchisee must open the studio's doors to the general public for regular classes no later than fifteen months after the execution of the agreement.
Therefore, the date Bft signs the agreement is a critical reference point for franchisees to track and manage their responsibilities and timelines for establishing their Bft studio. Franchisees should ensure they understand all obligations tied to this date to avoid any potential breaches of the agreement.