How much notice does Bor Restoration provide before increasing 'Audit Fees'?

According to the 2024 Bor Restoration Franchise Disclosure Document, Bor Restoration may increase the Audit Fees at any time and in any amount. However, Bor Restoration must provide franchisees with no less than 60 days' prior written notice before increasing this fee.

Audit Fees are defined as the fees Bor Restoration charges if a franchisee understates their Gross Sales by 2% or more, or for any other audit permitted under the Franchise Agreement. This fee covers Bor Restoration's costs and expenses, including accountants' and attorneys' fees, travel, room and board, plus a fixed fee payable to them.

This policy ensures that Bor Restoration franchisees have advance warning of any changes to the Audit Fees, allowing them to prepare for the increased expense. It is important for prospective franchisees to understand the circumstances under which Audit Fees may be charged and to factor in potential increases when assessing the overall cost of operating a Bor Restoration franchise.