What should a prospective Bombs Away franchisee do with the disclosure document after receiving it?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 23: RECEIPTS]
Keep This Copy For Your Records
RECEIPT
This disclosure document summarizes certain provisions of the franchise agreement and other information in plain language. Read this disclosure document and all agreements carefully.
If Bombs Away Franchising, LLC offers you a franchise, it must provide this disclosure document to you 14 calendar-days before you sign a binding agreement with, or make a payment to, the franchisor or an affiliate in connection with the proposed franchise sale. New York requires that you be given this disclosure document at the earlier of the first personal meeting or 10 business days before the execution of any franchise or other agreement, or payment of any consideration that relates to the franchise relationship.
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).
The name, principal business address, and telephone number of each franchise seller offering the franchise is:
Source: Item 23 — RECEIPTS (FDD pages 36–117)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, a prospective franchisee should keep the copy of the disclosure document for their records. The document summarizes certain provisions of the franchise agreement and other information. Bombs Away emphasizes the importance of carefully reading the disclosure document and all related agreements.
Bombs Away must provide the disclosure document to a prospective franchisee 14 calendar days before they sign a binding agreement or make a payment to Bombs Away or its affiliates related to the franchise sale. In New York, the disclosure document must be provided earlier, specifically at the first personal meeting or 10 business days before signing any agreement or making any payment related to the franchise relationship.
Bombs Away also advises that if the disclosure document is not delivered on time, contains false or misleading statements, or has material omissions, it could be a violation of federal and state laws. In such cases, the franchisee should report it to the Federal Trade Commission in Washington, D.C., and any applicable state agency listed in Exhibit A of the FDD.