What agreements must a transferee sign to be approved by Bigfoot Forestry?
Bigfoot_Forestry Franchise · 2025 FDDAnswer from 2025 FDD Document
ness experience, aptitude and financial resources to develop, own and operate all of the remaining Bigfoot Forestry Businesses to be developed under this Agreement and meets our minimum criteria for area developers;
- (b) you and your Owners and affiliates are in full compliance with all Definitive Agreements;
- (c) the transferee's owners successfully complete, or make arrangements to attend, the initial training program and the transferee pays us any applicable training fee;
- (d) the transferee and its owners sign our then-current form of area development agreement (unless we, in our sole discretion, instruct you to assign this Agreement to the transferee) except that: (i) the Term shall be the Term remaining under this Agreement;
Source: Item 23 — RECEIPT (FDD pages 42–162)
What This Means (2025 FDD)
According to Bigfoot Forestry's 2025 Franchise Disclosure Document, if a franchisee wishes to transfer their rights, the transferee will generally need to sign certain agreements to gain approval from Bigfoot Forestry. Specifically, the transferee and its owners must sign Bigfoot Forestry's then-current form of area development agreement. However, the terms of this agreement will reflect the remaining term of the original agreement, will not require a separate development fee, and will maintain the original development schedule and territory.
In addition to the area development agreement, the original franchisee and their owners must sign a General Release, which is Bigfoot Forestry's current form of Waiver and Release of Claims. This ensures that Bigfoot Forestry is released from any potential liabilities or claims related to the previous franchisee's operation of the business.
Furthermore, the transferee must agree to guarantee and perform the obligations of the original franchisee under the existing Franchise Agreement. This ensures that the transferee is legally bound to uphold all responsibilities and commitments outlined in the original agreement. By requiring these agreements, Bigfoot Forestry aims to maintain consistency and protect its interests during the transfer process.