What is the 'Effective Date' in the Stripe Services Agreement for Bonchon?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
This Agreement is effective upon the date you first access or use the Services ("Effective Date") and continues until you or Stripe terminates it (this period, the "Term"). Capitalized terms used in this Agreement that are not defined inline are defined in the Definitions.
As referenced in Section 13 of the General Terms, any dispute between you and Stripe is subject to a class action waiver and must be resolved by individual binding arbitration. Please read the arbitration provision in this Agreement as it affects your rights under this Agreement.
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https://stripe.com/legal/ssa 1/46
General Terms
Last modified: December 15, 2023
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, the Stripe Services Agreement's Effective Date is defined as the date the franchisee first accesses or uses Stripe's services. This agreement remains in effect until either Bonchon or Stripe terminates it.
For a prospective Bonchon franchisee, this means that the terms and conditions of the Stripe Services Agreement become legally binding as soon as they begin using Stripe's platform for any business-related activities. It's crucial for franchisees to understand this agreement from the outset, as it governs how they can use Stripe's services for payment processing and other related functions.
The FDD also mentions that any disputes between the franchisee and Stripe are subject to a class action waiver and must be resolved through individual binding arbitration. This highlights the importance of carefully reviewing the Stripe Services Agreement to understand the dispute resolution process and any limitations on legal recourse. The last modified date for the general terms of the Stripe Services Agreement is December 15, 2023.