What are the conditions under which Stripe can terminate the Stripe Services Agreement with Bonchon?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
- (b) Stripe Termination. Stripe may terminate this Agreement (or any part) or close your Stripe Account at any time for any or no reason (including if any event listed in Sections 6.2(a)–(i) of these General Terms occurs) by notifying you. In addition, Stripe may terminate this Agreement
(or relevant part) for cause if Stripe exercises its right to suspend Services (including under Section 6.2 of these General Terms) and does not reinstate the suspended Services within 30 days.
- (c) Termination for Material Breach. A party may terminate this Agreement immediately upon notice to the other party if the other party materially breaches this Agreement, and if capable of cure, does not cure the breach within 10 days after receiving notice specifying the breach. If the material breach affects only certain Services, the non-breaching party may choose to terminate only the affected Services.
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, Stripe has broad rights to terminate the Stripe Services Agreement. Stripe can terminate the agreement at any time, for any reason, by simply notifying the franchisee. Additionally, Stripe can terminate the agreement (or any part of it) if any of the events listed in Sections 6.2(a)–(i) of the General Terms occur, also by notifying the franchisee.
Stripe may also terminate the agreement for cause if Stripe suspends services and does not reinstate them within 30 days. Furthermore, either party can terminate the agreement immediately if the other party materially breaches the agreement, and fails to cure the breach within 10 days of receiving notice, if the breach is curable. If the breach only affects certain services, the non-breaching party can choose to terminate only those affected services.
These termination conditions are significant for a Bonchon franchisee because they highlight the potential for Stripe to discontinue services, which could disrupt payment processing. The broad scope of Stripe's termination rights means that franchisees must stay compliant with all terms and conditions to minimize the risk of service interruption. Franchisees should carefully review Section 6.2(a)-(i) to understand the specific events that could trigger a suspension and subsequent termination by Stripe.