What is the process for Bonchon to terminate the Stripe Services Agreement?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
7. Other General Legal Terms.
7.1 Term, Termination, and the Effects of Termination.
- (a) The term of this Connected Account Agreement begins when you enroll your Stripe Account with a Stripe Connect Platform and continues until you or Stripe terminate this Connected Account Agreement under this Section. You may terminate this Connected Account Agreement by (a) closing your Stripe Account or (b) unenrolling your Stripe Account from all Stripe Connect Platforms. If after termination you register your Stripe Account with a Stripe Connect Platform again, this Agreement will apply starting on the date on which you register your Stripe Account with a Stripe Connect Platform again. Stripe may terminate this Connected Account Agreement at any time for any reason by notifying you.
- (b) Terminating this Connected Account Agreement will not immediately terminate the Stripe Services Agreement. Stripe and you may only terminate the Stripe Services Agreement according to its terms. This Connected Account Agreement will automatically terminate if the Stripe Services Agreement terminates.
7.2 Stripe Services Agreement - Version.
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https://stripe.com/legal/ssa 8/46
(or relevant part) for cause if Stripe exercises its right to suspend Services (including under Section 6.2 of these General Terms) and does not reinstate the suspended Services within 30 days.
- (c) Termination for Material Breach. A party may terminate this Agreement immediately upon notice to the other party if the other party materially breaches this Agreement, and if capable of cure, does not cure the breach within 10 days after receiving notice specifying the breach. If the material breach affects only certain Services, the non-breaching party may choose to terminate only the affected Services.
- (d) Effect on Other Agreements. Unless stated to the contrary, termination of this Agreement will not affect any other agreement between the parties or their Affiliates. 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 effective from the date you first use the services until either you or Stripe terminates it.
Bonchon franchisees can terminate the Connected Account Agreement by closing their Stripe Account or unenrolling their Stripe Account from all Stripe Connect Platforms. However, terminating the Connected Account Agreement does not automatically terminate the Stripe Services Agreement.
Stripe may terminate the Connected Account Agreement at any time, for any reason, by notifying the franchisee. Additionally, Stripe can terminate the Stripe Services Agreement according to its terms. A franchisee may terminate the agreement immediately if Stripe suspends services and does not reinstate them within 30 days, or if either party materially breaches the agreement and fails to remedy the breach within 10 days of notice. Termination of the Stripe Services Agreement does not affect other agreements between the parties unless otherwise stated.