How long after a demand for appraisers does each party have to appoint their appraiser for Bigfoot Forestry?
Bigfoot_Forestry Franchise · 2025 FDDAnswer from 2025 FDD Document
If either party fails to appoint an appraiser within the 15-day period, then the appraiser appointed by the other party shall be deemed the single appraiser approved by the parties.
You must promptly provide any documents or information requested by the appraisers.
Each party shall promptly pay 50% of the cost of the appraisal.
Source: Item 23 — RECEIPT (FDD pages 42–162)
What This Means (2025 FDD)
According to the 2025 Bigfoot Forestry Franchise Disclosure Document, if an appraisal is required to determine the fair market value of acquired assets, both parties involved (the franchisor and franchisee) have a 15-day period to appoint their respective appraiser. This timeframe begins once a demand for appraisers has been made.
If either party fails to appoint an appraiser within this 15-day window, the appraiser selected by the other party will be recognized as the sole appraiser for the valuation. This provision ensures that the appraisal process moves forward even if one party is uncooperative or delayed in their selection.
Following the appraiser appointments, both the franchisee and franchisor are expected to promptly provide any documents or information requested by the appraisers. Each party is also responsible for paying 50% of the appraisal costs, regardless of whether one or three appraisers are ultimately used.