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

According to Bonchon's 2025 Franchise Disclosure Document, the Stripe Services Agreement defines "you" and "your" as the entity that the representative is representing in the agreement with Stripe, Inc. The agreement explicitly states that it "forms a legal agreement between Stripe, Inc. ('Stripe') and you or the entity you represent ('you' and 'your')." This definition is important for Bonchon franchisees because it clarifies who is legally bound by the terms of the Stripe Services Agreement.

For a Bonchon franchisee, this means that the legal agreement with Stripe is between Stripe, Inc., and the specific business entity (e.g., LLC, corporation, or sole proprietorship) that owns and operates the Bonchon franchise. The franchisee, as the business owner, is responsible for understanding and adhering to the terms outlined in the Stripe Services Agreement. This includes obligations related to payment processing, data security, and compliance with Stripe's policies.

It is also important to note that the agreement requires the representative to be authorized to provide user information and bind the franchisee to the agreement. The representative must be an executive officer, senior manager, or someone with significant responsibility for the business's control, management, or direction. Bonchon may need to provide additional documentation to demonstrate the representative's authority. This ensures that Stripe is dealing with someone who has the legal capacity to make decisions on behalf of the Bonchon franchise.

Bonchon franchisees should carefully review the Stripe Services Agreement and ensure they understand their rights and obligations. They should also ensure that the person signing the agreement on their behalf has the appropriate authority and is fully aware of the agreement's terms. This will help avoid any potential legal or financial issues down the road.