Under what conditions are Bumper Man transfer fees collectable?
Bumper_Man Franchise · 2025 FDDAnswer from 2025 FDD Document
rsonal Guaranty
EXHIBIT F
FORM OF GENERAL RELEASE
| THIS GENERAL RELEASE ("Release") is executed on | by |
|---|---|
| ("Franchisee") and ("Guarantors") as a | |
| condition of transfer or renewal of the Franchise Agreement dated ("Franchise | |
| Agreement") between Franchisee and Bumper Man, Inc |
Source: Item 22 — CONTRACTS (FDD page 45)
What This Means (2025 FDD)
According to the 2025 Bumper Man FDD, a general release must be executed by the franchisee and any guarantors as a condition of transfer or renewal of the Franchise Agreement. This indicates that transfer fees are likely associated with the transfer of the franchise agreement to a new franchisee.
This requirement ensures that Bumper Man can collect any outstanding debts or resolve any potential legal issues before a transfer or renewal is finalized. The general release likely covers a broad range of claims and liabilities, providing Bumper Man with legal protection.
Prospective franchisees should carefully review the terms of the Franchise Agreement and the general release to understand their obligations and potential liabilities upon transfer or renewal. It is advisable to seek legal counsel to fully understand the implications of these documents before signing.