What document must Bor Restoration franchisees complete and keep updated?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
- Please provide on a separate sheet any other information you think may be relevant to your financial status. I CERTIFY THAT THE INFORMATION PROVIDED IN THIS CONFIDENTIAL QUESTIONNAIRE IS TRUE AND ACCURATE TO THE BEST OF MY KNOWLEDGE. I FURTHER AGREE THAT BY SIGNING BELOW, I AGREE THAT SHOULD THE ANSWER TO ANY QUESTION CHANGE, CONDITION CHANGE IN ANY M OR SHOULD MY FINANCIAL ATERIAL WAY THAT I WILL NOTIFY BOR FRANCHISING, LLC WITH A WRITTEN UPDATE.
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, franchisees must complete and keep updated a Confidential Questionnaire. This questionnaire requires franchisees to certify that the information provided is true and accurate to the best of their knowledge.
Furthermore, the franchisee agrees that should the answer to any question or any condition change in any material way, they will notify Bor Restoration with a written update. This ensures that Bor Restoration has current and accurate information about the franchisee's financial status throughout the term of the franchise agreement.
This requirement is in place so that Bor Restoration can monitor the franchisee's financial health and assess any potential risks. By keeping this information updated, franchisees maintain transparency with Bor Restoration and adhere to the terms of the franchise agreement.