What is the consequence if Bombs Away Franchising, LLC does not deliver the disclosure document on time?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
If Bombs Away Franchising, LLC does not deliver this disclosure document on time or if it contains a false or misleading statement, or a material omission, a violation of federal law and state law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580 and any applicable state agency (which are listed in Exhibit A).
Source: Item 23 — RECEIPTS (FDD pages 36–117)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, if Bombs Away Franchising, LLC fails to deliver the disclosure document within the mandated timeframe, or if the document contains false, misleading, or omits material information, it may constitute a violation of both federal and state laws.
Specifically, the document states that Bombs Away must provide the Franchise Disclosure Document to prospective franchisees 14 calendar days before they sign a binding agreement or make any payment to Bombs Away or its affiliates related to the franchise sale. New York has a stricter requirement, mandating the disclosure document be provided at the earlier of the first personal meeting or 10 business days before any agreement is executed or any consideration is paid.
In the event of non-compliance, the document advises that such violations should be reported to the Federal Trade Commission (FTC) in Washington, D.C., as well as any relevant state agency listed in Exhibit A of the FDD. This measure ensures that franchisees are aware of their rights and have recourse in case of improper disclosure practices by Bombs Away.