What affirmation does a Bonchon franchisee make regarding the truthfulness of information provided in applications and financial statements?

According to Bonchon's 2025 Franchise Disclosure Document, a prospective franchisee must acknowledge the accuracy of the information they provide to Bonchon. Specifically, the franchisee affirms that all information submitted in applications, financial statements, and other submissions is true, complete, and accurate in all respects. Bonchon explicitly states that it relies on the truthfulness, completeness, and accuracy of this information.

This acknowledgment is a critical component of the franchise agreement, as it establishes a legal basis for Bonchon to rely on the information provided by the franchisee. Should the information prove to be false or misleading, Bonchon may have grounds to take legal action or terminate the franchise agreement. This requirement is fairly standard in the franchise industry, as franchisors need to assess the financial stability and suitability of potential franchisees.

For a prospective Bonchon franchisee, this means exercising due diligence in preparing all application materials and financial statements. It is essential to ensure that all information provided is accurate and verifiable. Any misrepresentation or omission, whether intentional or unintentional, could have serious consequences for the franchisee's relationship with Bonchon. Franchisees should carefully review all documents and seek professional advice if needed to ensure compliance with this requirement.