Within what timeframe must Bonchon franchisees furnish copies of signed Confidentiality/Non-Competition Agreements to the franchisor after their execution?
Bonchon Franchise · 2025 FDDAnswer from 2025 FDD Document
You shall procure all such Confidentiality/Non-Competition Agreements no later than ten days following the Effective Date (or, if any individual or entity attains any status identified above after the Effective Date, within ten days following such individual or entity's attaining such status) and shall furnish to us copies of all executed Confidentiality/Non-Competition Agreements within ten days following their execution.
Source: Item 23 — RECEIPTS (FDD pages 92–536)
What This Means (2025 FDD)
According to Bonchon's 2025 Franchise Disclosure Document, franchisees must provide copies of all executed Confidentiality/Non-Competition Agreements to Bonchon within ten days following their execution. This requirement is part of Bonchon's broader effort to ensure that individuals associated with the franchise operation are bound by confidentiality and non-competition obligations. These individuals include the Operating Principal, equity holders, control persons, shareholders, members, partners, officers, directors, and managers.
This obligation ensures Bonchon has timely documentation confirming adherence to these agreements. The franchisee is responsible for obtaining these agreements within specified timeframes related to the individual's start date or assumption of a relevant role, and then must furnish copies to Bonchon shortly after each agreement is signed.
For a prospective Bonchon franchisee, this means implementing a system to track and manage the execution and submission of these agreements. Failure to comply with this requirement could potentially lead to breaches of the franchise agreement and related enforcement actions. Franchisees should be aware of these deadlines and maintain organized records to ensure compliance.