When was the Statement of Policy Regarding the Use of Franchise Questionnaires and Acknowledgments adopted by the North American Securities Administrators Association, as it relates to Bonchon?

According to Bonchon's 2025 Franchise Disclosure Document, the Statement of Policy Regarding the Use of Franchise Questionnaires and Acknowledgments was adopted on September 18, 2022, by the North American Securities Administrators Association, Inc. This policy is relevant to any questionnaires or acknowledgments that Bonchon franchisees might complete as part of their franchise agreement. The effective date of this policy is January 1, 2023.

For prospective Bonchon franchisees, this means that any questionnaires or acknowledgments they are asked to complete must comply with the standards set by the North American Securities Administrators Association. This ensures that franchisees are not unknowingly waiving rights or making statements that could be detrimental to them. Specifically, if a Bonchon franchise agreement includes any franchisee questionnaires or acknowledgments that contradict this Statement of Policy, those questionnaires or acknowledgments will not apply to prospective franchisees who are Maryland residents or who seek to purchase a franchise located in Maryland.

This compliance measure aims to protect franchisees by ensuring transparency and fairness in the franchising process. Franchisees should carefully review all documents, including questionnaires and acknowledgments, to ensure they align with this policy. If there are discrepancies, particularly for those seeking a Bonchon franchise in Maryland, the policy ensures that the franchisee is protected under the guidelines set forth by the North American Securities Administrators Association.