In the Bonchon release form, what information must the deponent provide regarding their residence?

The 2025 Bonchon Franchise Disclosure Document states that if a franchisee seeks to transfer their franchise to a third party, Bonchon may choose to meet with the proposed assignee at their place of business or residence. If Bonchon chooses to do so, the franchisee will reimburse Bonchon for all travel, lodging, meal, and personal expenses related to such meeting.

Bonchon requires the proposed assignee to furnish information and references to determine their skills, qualifications, financial condition, background and history, reputation, economic resources, education, managerial and business experience, moral character, credit rating and ability to assume the current franchisee's duties and obligations. This information helps Bonchon assess whether the proposed assignee is a suitable candidate to take over the franchise.

In the event of a meeting at the proposed assignee's place of business or residence, the franchisee bears the responsibility for reimbursing Bonchon's expenses. This condition ensures that Bonchon can thoroughly evaluate the proposed assignee without incurring additional costs. The financial burden on the franchisee highlights the importance of carefully selecting a qualified and suitable assignee to minimize potential expenses.