How long does the Stripe Services Agreement last for Bonchon?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
This Agreement is effective upon the date you first access or use the Services ("Effective Date") and continues until you or Stripe terminates it (this period, the "Term"). Capitalized terms used in this Agreement that are not defined inline are defined in the Definitions.
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, the Stripe Services Agreement remains in effect from the date a franchisee first accesses or uses the services, known as the "Effective Date," until either the franchisee or Stripe terminates the agreement. This duration is referred to as the "Term."
This means that the agreement does not have a fixed duration but continues indefinitely until one of the parties decides to terminate it. Bonchon franchisees should be aware of the conditions under which either they or Stripe can terminate the agreement, as outlined elsewhere in the document. Understanding these conditions is crucial for managing their business operations and financial obligations related to the services provided by Stripe.
It is typical for service agreements like this to continue until terminated, as this allows for ongoing service provision without the need for periodic renewals. However, franchisees should carefully review the termination clauses to understand their rights and responsibilities, as well as any potential liabilities that may survive the termination of the agreement.