When does the Bonchon Franchise Agreement become effective?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
THIS FRANCHISE AGREEMENT RIDER – 2025 DEVELOPMENT INCENTIVE PROGRAM (this "Rider") supplements and amends that certain Franchise Agreement, dated as of (the "Franchise Agreement"), between Bonchon Franchise LLC ("Franchisor") and ("Franchisee"). This Rider is incorporated into the Franchise Agreement and is dated and effective as of the date of execution of the Franchise Agreement. In the event of any ambiguity or conflict between the terms of this Rider and the terms of the Franchise Agreement, the terms of this Rider shall control and prevail. All initial capitalized terms used but not defined in this Rider shall have the meanings given to those terms in the Franchise Agreement or the Area Development Agreement (as applicable).
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Agreement Rider regarding the Development Incentive Program, the Franchise Agreement becomes effective as of the date of execution of the Franchise Agreement. This means that the agreement is active from the moment both Bonchon and the franchisee sign it.
This is a fairly standard practice in franchising, as it legally binds both parties to the terms and conditions outlined in the agreement from that point forward. The rider supplements and amends the original Franchise Agreement, and it's incorporated into the agreement itself. This rider is specifically for franchisees participating in the 2025 Incentive Program.
It is important to note that the terms of the Rider will control and prevail over the terms of the Franchise Agreement in the event of any ambiguity or conflict between the two documents. This ensures that the incentives offered under the 2025 Incentive Program are properly reflected and take precedence.