Is Bor Restoration liable to the franchisee or proposed transferee regarding a transfer?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
- b.
We may meet with the Proposed Transferee and candidly discuss all matters relating to the Franchise Agreement and the Franchised Business.
In no case will you or a Proposed Transferee rely on us to review or evaluate any Proposed Transfer.
We will not be liable to you, the Proposed Transferee, or any other Person or entity relating to the Transfer.
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, Bor Restoration will not be held liable to the franchisee, the proposed transferee, or any other person or entity relating to the transfer of the franchise.
Bor Restoration may meet with the proposed transferee to discuss matters relating to the Franchise Agreement and the Franchised Business. However, the document states that neither the franchisee nor a proposed transferee can rely on Bor Restoration to review or evaluate any proposed transfer.
This clear statement of non-liability is an important consideration for prospective franchisees. It means that franchisees must conduct their own due diligence when considering a transfer and cannot depend on Bor Restoration for guidance or protection against potential issues arising from the transfer. Franchisees should seek independent legal and financial advice to evaluate the terms of any proposed transfer and assess the suitability of the proposed transferee.