What additional information or documentation can Stripe require from Bonchon's representative?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
Upon Stripe's request, you must provide User Information to Stripe in a form satisfactory to Stripe. You must keep the User Information in your Stripe Account current. You must promptly update your Stripe Account with any changes affecting you, the nature of your business activities, your Representative, beneficial owners, principals, or any other pertinent information. You must immediately notify Stripe, and provide to Stripe updated User Information, if (a) you experience or anticipate experiencing a Change of Control; (b) you experience or anticipate experiencing a material change in your business or financial condition, including if you experience or are likely to experience an Insolvency Proceeding; (c) the regulatory status of the business for which you are using the Services changes, including if it becomes subject, or no longer subject, to regulatory oversight; or (d) a Governmental Authority has notified you that you or your business is the subject of investigative action.
You authorize Stripe to retrieve information about you and your business from Stripe's service providers and other third parties, including credit reporting agencies, banking partners and information bureaus, and you authorize and direct those third parties to compile and provide that information to Stripe. This information may include your, or your Representative's, name, addresses, credit history, banking relationships, and financial history.
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, Stripe can request User Information from Bonchon's representative in a form satisfactory to Stripe. This includes keeping the User Information in the Stripe Account current and promptly updating the account with any changes affecting the representative, the nature of the business, beneficial owners, principals, or any other pertinent information.
Bonchon's representative must immediately notify Stripe and provide updated User Information if they experience or anticipate a Change of Control, a material change in their business or financial condition (including Insolvency Proceeding), a change in the regulatory status of the business, or notification from a Governmental Authority regarding investigative action.
Stripe is also authorized to retrieve information about Bonchon's business and its representative from service providers and third parties, including credit reporting agencies, banking partners, and information bureaus. This information may include the representative's name, addresses, credit history, banking relationships, and financial history. Bonchon's representative authorizes these third parties to provide this information to Stripe.