When will Bor Restoration deliver the BOR Application to a prospective franchisee?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
a profit.
We will deliver the BOR Application ("Application" - Exhibit H to this FDD) to you when you receive this FDD. No earlier than 14 calendar days after the date that you sign and return the Receipt (the last page of this FDD) (or after any other date that may be defined by state law), you must complete and return the Application and must pay us the Application Fee of $1,000. If we disapprove of your Application, the fee will be fully returned. If we accept your Application, you qualify for a franchise award and must sign the Franchise Agreement within 90 days. If you do not sign the Franchise Agreement within that time, your Application Fee will become non-refundable. If you sign the Franchise Agreement at any time, your Application Fee is credited agains
Source: Item 5 — Initial Fees (FDD pages 9–10)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the BOR Application will be delivered to a prospective franchisee when they receive the FDD. After receiving the FDD and signing and returning the receipt, the prospective franchisee must complete and return the application, along with the $1,000 application fee, no earlier than 14 calendar days after signing the receipt (or any other date defined by state law).
If Bor Restoration disapproves the application, the $1,000 application fee will be fully returned to the prospective franchisee. However, if Bor Restoration approves the application, the applicant will then qualify for a franchise award and must sign the Franchise Agreement within 90 days.
If the Franchise Agreement is not signed within that 90-day period, the application fee becomes non-refundable. If the applicant does sign the Franchise Agreement, the $1,000 application fee will be credited towards the initial franchise fee of $44,000.