In the Budget franchise agreement receipt, what information is required for the 'LICENSEE' section?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
Please sign this copy of the receipt, date your signature, and return it to Budget Rent A Car System, Inc., 379 Interpace Parkway, Parsippany, NJ 07054
RECEIPT (FOR FRANCHISEE)
This Disclosure Document summarizes certain provisions of the franchise agreement and other information in plain language. Read this disclosure document and all agreements carefully.
If Budget offers you a franchise, Budget must provide this disclosure document to you 14 calendar days before you sign a binding agreement with, or make a payment to the franchisor or an affiliate I connection with the proposed franchise sale.
Several states, including New York require that we give you this disclosure document at the earlier of the first personal meeting or 10 business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship.
Several states, including Michigan, require that we give you this disclosure document at least 10 business days before execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first.
If Budget does not deliver this disclosure document on time or if it contains a false or misleading statement, or a material omission, a violation of federal and state law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580 and the state agency listed on Exhibit A.
Budget Car Rental System, Inc. authorizes the agents listed in Exhibit A to receive service of process on our behalf.
The name, principal business address, and telephone number of each franchise seller offering the franchise is: Issuance Date: April 30, 2025
I have received a disclosure document issued on April 30, 2025 and effective in the franchise registration states on the dates listed in Exhibit A. This disclosure document included the following Exhibits:
Source: Item 23 — RECEIPTS (FDD pages 80–426)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the receipt for the franchisee requires them to sign and date the copy of the receipt and return it to Budget Rent A Car System, Inc. at 379 Interpace Parkway, Parsippany, NJ 07054.
This receipt acknowledges that the franchisee has received the disclosure document issued on April 30, 2025, which is effective in the franchise registration states on the dates listed in Exhibit A. The receipt also confirms that the disclosure document included the exhibits listed within it.
It is important for prospective Budget franchisees to carefully review the disclosure document and all related agreements. This receipt serves as confirmation that Budget has provided the necessary documentation within the legally mandated timeframe, allowing the franchisee sufficient time to make an informed decision.