What is the 'Term' of the Bigfoot Forestry franchise agreement?
Bigfoot_Forestry Franchise · 2025 FDDAnswer from 2025 FDD Document
"Term" means the period of time beginning on the Effective Date and expiring on the earlier to occur of: (a) the 10th anniversary of the Effective Date; or (b) the date this Agreement is effectively terminated.
Source: Item 23 — RECEIPT (FDD pages 42–162)
What This Means (2025 FDD)
According to the 2025 Bigfoot Forestry Franchise Disclosure Document, the 'Term' refers to the duration of the agreement, beginning on the 'Effective Date' and ending on the earlier of two possible dates.
The first potential end date is the 10th anniversary of the 'Effective Date'. This means that, under normal circumstances, the franchise agreement will last for a decade from the date it comes into effect.
However, the agreement can terminate sooner if a specific event occurs: the date the agreement is effectively terminated. This implies that the franchise agreement can be terminated before the 10-year mark under certain circumstances, which are likely detailed elsewhere in the Franchise Agreement.