What is the deadline for the third appraiser to complete their appraisal for Burneys Sweets More after their appointment?

According to Burneys Sweets More's 2025 Franchise Disclosure Document, if the franchisor and franchisee cannot agree on the rent for the lease after termination, non-renewal, or expiration of the agreement, a third independent appraiser will be appointed. The parties are expected to take reasonable actions to ensure that the third appraiser completes the appraisal within fifteen (15) days after their appointment.

This means that if a disagreement arises regarding the rent amount upon the end of the franchise agreement, Burneys Sweets More franchisees need to be prepared to act quickly in selecting an appraiser and ensuring the appraisal is completed promptly. Failure to do so could potentially delay the resolution of the lease terms and create uncertainty for both parties.

It is important to note that while the franchisor and franchisee share the costs of the third appraiser, each party is responsible for the cost of their own appraiser. This could potentially add to the expenses incurred during the termination or non-renewal process. Franchisees should factor in these potential appraisal costs when considering the financial implications of ending their franchise agreement with Burneys Sweets More.