What happens if Bonchon's representative is not authorized to provide User Information?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
You and your Representative individually affirm to Stripe that (a) your Representative is authorized to provide User Information on your behalf and to bind you to this Agreement; and (b) your Representative is an executive officer, senior manager or otherwise has significant responsibility for the control, management or direction of your business. Stripe may require you or your Representative to provide additional information or documentation demonstrating your Representative's authority.
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, the franchisee and their representative must affirm to Stripe that the representative is authorized to provide User Information on behalf of the franchisee and to bind them to the agreement. The representative must be an executive officer, senior manager, or someone with significant responsibility for the business's control, management, or direction.
Stripe, which is a third-party payment processor, may require the franchisee or their representative to provide additional information or documentation demonstrating the representative's authority. This is to ensure that Stripe is dealing with someone who has the legal right to make decisions and provide information for the Bonchon franchise.
If the representative is not authorized, Stripe may not allow the franchisee to use its services. This could prevent the Bonchon franchise from processing electronic payments, which would significantly impact its ability to operate. It is crucial for prospective franchisees to ensure their designated representative has the appropriate authority and documentation to avoid any issues with Stripe's requirements.