What final documentation must a transferring Budget licensee provide to Budget?

According to Budget's 2025 Franchise Disclosure Document, a transferring licensee must provide all final documentation to Budget. This includes corporate resolutions, lease assignments, airport concession agreement assignments, and consents to such assignments.

This requirement ensures that Budget has a complete record of the transfer and that all necessary legal documents are properly executed. It also helps Budget to ensure that the transfer complies with the terms of the existing license agreement and any applicable laws or regulations.

It is the transferring licensee's responsibility to manage their transfer request and facilitate communication between Budget, the proposed transferee, and themselves. Budget explicitly states that brokers should not contact them at any time during this process. This places the onus on the current franchisee to ensure all parties are informed and responsive, potentially adding to the complexity and workload of the transfer process.

Budget also requires the transferring licensee to pay a transfer fee of $2,500, which may be subject to CPI-U adjustments, when they request Budget to review a proposed transfer. The transferring licensee will also be responsible for paying any out-of-pocket expenses that Budget incurs during the transfer review and approval process, but these expenses will not exceed $7,500. If the transfer does not conclude because Budget refuses to approve it, no transfer fee is due, and Budget will refund any transfer fee that has already been paid.