factual

What is the definition of 'Agreement' in the Stripe Services Agreement for Bonchon?

Bonchon Franchise · 2025 FDD

Answer from 2025 FDD Document

This agreement governs Connected Accounts' use of Stripe Connect Services, and describes how Connected Accounts and their third-party platform provider(s) may use the Stripe Connect Services. This Stripe Connected Account Agreement ("Connected Account Agreement") forms a legal agreement between Stripe, Inc. ("Stripe") and you or the entity you represent ("you" and "your"). This Connected Account Agreement governs your rights and obligations when your Stripe Account is enrolled with a third-party platform provider using Stripe Connect Services ("Stripe Connect Platform"). The Stripe Services Agreement is incorporated into this Connected Account Agreement by this reference. Capitalized terms not defined in this Connected Account Agreement (either inline or by hyperlink), are defined in the Stripe Services Agreement. To the extent that there is a conflict between the Stripe Services Agreement and this Connected Account Agreement related to your use of the Stripe Connect Services, this Connected Account Agreement will prevail.

This Agreement constitutes the entire agreement and understanding of the parties with respect to the Services, and supersedes all prior and contemporaneous agreements and understandings.

Stripe may modify all or any part of this Agreement at any time by posting a revised version of the modified General Terms (including the introduction to this Agreement and the Definitions), Services Terms or terms incorporated by reference on the Stripe Legal Page or by notifying you. The modified Agreement is effective upon posting or, if Stripe notifies you, as stated in the notice. By continuing to use Services after the effective date of any modification to this Agreement, you agree to be bound by the modified Agreement.

Source: Item 23 — RECEIPTS (FDD pages 92–536)

What This Means (2025 FDD)

According to Bonchon's 2025 Franchise Disclosure Document, the 'Agreement' in the Stripe Services Agreement is defined within several contexts. The document refers to the 'Stripe Connected Account Agreement' as a legal agreement between Stripe, Inc. and the entity using Stripe Connect Services. This agreement governs the rights and obligations when a Stripe Account is enrolled with a third-party platform provider using Stripe Connect Services and incorporates the Stripe Services Agreement by reference.

Additionally, the document mentions that the 'Agreement' constitutes the entire understanding between the parties regarding the Services, superseding any prior agreements. Stripe may modify the Agreement at any time by posting revisions on the Stripe Legal Page or by notifying the user, with continued use of the Services after modification implying acceptance of the new terms.

For a Bonchon franchisee, understanding these definitions is crucial as it clarifies the legal framework governing the use of Stripe's services for payment processing. Franchisees should stay informed about any modifications to the agreement by regularly checking the Stripe Legal Page, as these changes can impact their rights and obligations.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.