What sections of the Budget License Agreement cover the assignment of account and other receivables?

According to Budget's 2025 Franchise Disclosure Document, the sections of the Budget License Agreement that address the assignment of accounts and other receivables are outlined in sections 7.7 and 14.5. This information is crucial for prospective franchisees as it clarifies the contractual obligations and rights regarding financial assets generated through the Budget franchise. Understanding these sections is essential for managing the financial aspects of the franchise and ensuring compliance with Budget's policies.

Specifically, section 7.7 and 14.5 likely detail the conditions under which Budget can claim or manage the accounts receivable of the franchisee. This could include scenarios such as default, termination of the agreement, or other circumstances where Budget needs to protect its financial interests. The franchisee needs to be fully aware of these conditions to avoid potential disputes or financial losses.

For a prospective franchisee, a thorough review of sections 7.7 and 14.5 is highly recommended. It is important to understand the implications of these clauses on the franchisee's ability to manage their own finances and the potential for Budget to intervene in the management of accounts receivable. Seeking legal counsel to interpret these sections can provide additional clarity and ensure that the franchisee is fully informed before entering into the agreement.