What exhibits are included in the Bombs Away disclosure document?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
Issuance Date: February 9, 2024
I received a disclosure document that included the following Exhibits:
- A. State Addenda to Disclosure Document
- B. Franchise Agreement (with State Addenda to Agreements, Guaranty and Non-Compete Agreement, and Form of General Release)
- C. Item 21 Financial Statements
- D. State Administrators and Agents for Service of Process
Source: Item 23 — RECEIPTS (FDD pages 36–117)
What This Means (2024 FDD)
According to the 2024 Bombs Away Franchise Disclosure Document, the exhibits included are listed in the receipt. These exhibits provide additional information and legal disclosures relevant to the franchise offering. Specifically, the FDD includes Exhibit A, which contains state-specific addenda to the disclosure document, addressing variations in franchise laws across different states. Exhibit B consists of the Franchise Agreement, along with related documents such as State Addenda to Agreements, the Guaranty and Non-Compete Agreement, and a form of General Release. Exhibit C contains the Item 21 Financial Statements, which provide financial performance representations, if any, about Bombs Away franchises. Finally, Exhibit D lists the State Administrators and Agents for Service of Process, which are crucial for legal and regulatory compliance.
Prospective Bombs Away franchisees should carefully review each of these exhibits as they contain critical details about their rights, obligations, and the financial aspects of the franchise. The state addenda in Exhibit A, for example, modify certain terms of the franchise agreement to comply with local laws, potentially altering the franchisee's rights or the franchisor's obligations depending on the state. Similarly, the financial statements in Exhibit C can offer insights into the potential profitability and financial health of existing Bombs Away franchises, although past performance is not a guarantee of future results.
The inclusion of these exhibits is a standard practice in franchising, ensuring that franchisees have access to all necessary information before making a final investment decision. Franchisees should pay close attention to any addenda or modifications that apply to their specific state, as these can significantly impact the terms of their franchise agreement. Consulting with an attorney and a financial advisor to review these documents is highly recommended to fully understand the implications and make an informed decision about investing in a Bombs Away franchise.
Receipt of these exhibits must be acknowledged in writing, as indicated by the detachable documents mentioned in the FDD. This acknowledgement serves as proof that the prospective franchisee was provided with all the required information within the mandated timeframe, typically 14 calendar days before signing any binding agreement or making a payment to Bombs Away.