Where can I find a summary of the provisions related to the Area Development Agreement for a Bonchon franchise?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
section references in the table above are to the Franchise Agreement.
Area Development Agreement
| Provisions | Section in Area Development Agreement | Summary |
|---|---|---|
| a. Length of the franchise Term | 4.01 | Term is from date we sign agreement until the earlier of either the actual date of execution of the last Franchise Agreement scheduled to be signed under the Area Development Agreement or the last Date of Execution of Lease as specified in Section 6.01 of the agreement. |
| b. Renewal or extension of the term | Section 4.02 | The Area Development Agreement is not renewable. |
| c. Requirements for | None | Not Applicable. |
| you to renew or | ||
| extend | ||
| d. Termination by you | Section 15.02 |
|
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION THE FRANCHISE RELATIONSHIP (FDD pages 71–81)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, Item 17 provides a summary of provisions related to the Area Development Agreement. The table outlines various provisions, the corresponding sections in the Area Development Agreement, and a brief summary of each provision.
Specifically, the table includes details on the length of the franchise term, explaining that it lasts from the agreement's signing date until the earlier of the execution date of the last Franchise Agreement or the last Date of Execution of Lease as specified in Section 6.01. It also clarifies that the Area Development Agreement is not renewable.
The table further summarizes conditions under which you or Bonchon can terminate the agreement. Bonchon provides details regarding transfer of ownership, death or disability, non-competition covenants, modification of the agreement, dispute resolution, and choice of law.