If a Bonchon franchisee is a business entity, what documents must be furnished to Bonchon Franchise LLC?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
If you are a corporation, limited liability company, limited partnership or any other type of business entity, you must comply with the following requirements (which will also apply to any assignee of this Agreement which is a business entity):
- A. Furnish us with all of your formation, organizational and governing documents; a schedule of all current owners (indicating as to each its percentage ownership interest) in the form annexed hereto as Exhibit J; any shareholder, partnership, membership, buy/sell or equivalent agreements and documents; and, a list of all of your officers, directors and managers (as applicable).
- B. Unless we otherwise consent in writing, your business entity's formation and governing documents must provide that its activities will be confined exclusively to the operation of the franchised Business.
- C. You must promptly notify us in writing of any change in any of the information specified, or in any document referred to, herein.
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, if a franchisee is a business entity, certain documents must be provided to Bonchon Franchise LLC. These include all formation, organizational, and governing documents of the business entity. Additionally, any shareholders, partnership, members, buy-sell, or equivalent agreements and documents must be furnished.
Furthermore, Bonchon requires a schedule of all current owners, indicating each owner's percentage ownership interest, using the form annexed as Exhibit J. A list of all officers, directors, and managers of the business entity must also be provided to Bonchon. Franchisees must also furnish the Confidentiality/Non-Competition Agreements required under Section 11.01.
Bonchon also retains the right to request any other documents it may reasonably require, as well as any amendments to the documents mentioned above. Franchisees are obligated to promptly notify Bonchon in writing of any changes to the information provided or in any of the documents referenced. These requirements also apply to any business entity that becomes an assignee of the franchise agreement.