What are the implications for Bonchon if Stripe assigns the agreement to another party?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
Stripe may, without your consent, freely assign and transfer this Agreement, including any of its rights or obligations under this Agreement. This Agreement will be binding on, inure to the benefit of, and be enforceable by the parties and their permitted assigns.
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, Stripe, the third-party payment processor, has the right to freely assign and transfer its agreement with Bonchon, including all rights and obligations, without requiring consent from Bonchon. This means Bonchon may have to work with a different payment processor if Stripe chooses to assign the agreement. The new entity would then be bound by the existing terms.
This clause is included in the section detailing the agreement between Bonchon and Stripe, which covers various aspects such as determination, waivers, force majeure, export control, and other legal considerations. The agreement is governed by and construed in accordance with the laws of the State of Delaware, and any disputes will be resolved in either the federal or state courts located in Delaware. The United Nations Convention on Contracts for the International Sale of Goods does not apply to this agreement.
For a prospective Bonchon franchisee, this means that the payment processing services could potentially be handled by a different company during the term of their franchise agreement if Stripe decides to assign its agreement. While the terms of the agreement should remain the same, it's essential for franchisees to understand that Bonchon has limited control over this aspect of the payment processing arrangement and should be prepared to adapt to any changes resulting from such an assignment.