What happens to the Connected Account Agreement for a Bonchon franchise if the Stripe Services Agreement is terminated?

According to Bonchon's 2025 Franchise Disclosure Document, the Connected Account Agreement will automatically terminate if the Stripe Services Agreement is terminated. This means that the franchisee's ability to use Stripe Connect Services through a third-party platform provider will cease if the overarching agreement with Stripe is terminated.

This condition is important for prospective Bonchon franchisees to understand because it highlights the interconnectedness of the agreements with Stripe. The franchisee cannot maintain their Connected Account Agreement independently if the Stripe Services Agreement is terminated. This could impact the franchisee's ability to process payments or manage their account through the Stripe Connect Platform.

Franchisees should ensure they understand the terms under which the Stripe Services Agreement can be terminated to avoid unintended consequences for their Connected Account Agreement. It would be prudent for a prospective franchisee to discuss with Bonchon the typical reasons for termination of the Stripe Services Agreement and any recourse available to the franchisee in such a situation.