When must a Bonchon franchisee furnish copies of all executed Confidentiality/Non-Competition Agreements to the franchisor?

According to Bonchon's 2025 Franchise Disclosure Document, a franchisee must furnish copies of all executed Confidentiality/Non-Competition Agreements to Bonchon within ten days following their execution. This requirement applies to agreements obtained from specific individuals associated with the franchise.

The individuals who must sign the Confidentiality/Non-Competition Agreement include the Operating Principal (if they have an ownership interest), owners, equity holders, control persons, shareholders, members, partners, general partners (if the franchisee is a business entity), officers, directors, managers, and individuals in equivalent positions within entities that directly or indirectly own or control the franchisee. The franchisee must procure these agreements no later than ten days following the Effective Date, or within ten days of an individual attaining one of the aforementioned statuses after the Effective Date.

Bonchon also requires a Confidentiality Agreement (without the non-competition component) from the Operating Principal (if they do not have an ownership interest), General Manager, Area Manager, and all other managerial staff before their employment or promotion. While the FDD specifies who needs to sign these agreements and when they need to be obtained, it only states that copies of the Confidentiality/Non-Competition Agreements must be furnished to Bonchon within ten days of execution, but does not specify a deadline for furnishing copies of the Confidentiality Agreements.

It is important for prospective Bonchon franchisees to understand these requirements and ensure timely compliance to avoid potential breaches of the franchise agreement. Franchisees should maintain accurate records of all executed agreements and their submission dates to Bonchon.