What is the deadline for commencing arbitration on a claim related to the Burros Fries Franchise Agreement?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
The party having an arbitrable claim will have one (1) year from the date of discovery but not to exceed two (2) years from the date the claim occurred, in which to settle the claim or to commence arbitration on the claim. Otherwise the claim or demand will be deemed abandoned and shall be barred.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2024 FDD)
According to the 2024 Burros Fries Franchise Disclosure Document, a party with an arbitrable claim has a limited time to act. Specifically, the claimant has one year from the date of discovering the issue, but no more than two years from when the claim initially occurred, to either settle the claim or formally begin arbitration.
If the claimant fails to settle or commence arbitration within this timeframe, the claim is considered abandoned and will be barred. This means the franchisee loses the right to pursue the claim through arbitration.
This provision emphasizes the importance of promptly addressing and pursuing any disputes related to the Burros Fries franchise agreement. Franchisees should be aware of these deadlines and seek legal advice to ensure they do not forfeit their rights.