Which items in the Budget Disclosure Document relate to the assignment of account and other receivables?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
| OBLIGATION | SECTION IN AGREEMENT | ITEM IN DISCLOSURE DOCUMENT |
|---|---|---|
| aa. Assignment of account | 7.7 and 14.5 of the Budget License | |
| and other receivables | Agreement |
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS, AND TRAINING (FDD pages 37–61)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, Item 11 references the section in the Budget License Agreement that relates to the assignment of accounts and other receivables. Specifically, sections 7.7 and 14.5 of the Budget License Agreement pertain to the assignment of accounts and other receivables.
This means that as a Budget franchisee, your rights and obligations regarding the assignment of accounts and receivables are detailed in these sections of the Budget License Agreement. It is important to carefully review these sections to understand under what circumstances Budget might require assignment, what your responsibilities would be, and what impact this could have on your business operations and finances.
Prospective franchisees should carefully review sections 7.7 and 14.5 of the Budget License Agreement to fully understand their obligations and rights regarding the assignment of accounts and other receivables. Understanding these provisions is crucial for assessing the financial and operational implications of the franchise agreement.