What is the page number in the Burros Fries FDD where the term of the agreement is discussed?
Burros_Fries Franchise · 2024 FDDAnswer from 2024 FDD Document
7. TERM AND RENEWAL OF AGREEMENT
A. Term
The Franchise herein granted for a Burros & Fries Business, shall be for a term of ten (10) years from the date of execution and acceptance (the "Effective Date") of this Agreement by us and subject to earlier termination as herein provided. We reserve the right, with your approval, to change the term to match the premise's lease.
B. Renewal
Franchisee shall have the option to renew this Agreement for up to two (2) additional terms of ten (10) years each, provided we are still offering franchises at that time, and further subject to the following conditions, all of which must be met prior to renewal:
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- Franchisee shall give us written notice of its election to renew not more that twelve (12) months and not less than six (6) months prior to the end of the then current term. We will respond to Franchisee's written notice to renew no later than thirty (30) days after receipt of such notice by email or any other form of written communication;
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- Franchisee must not be in default under any provision of the Agreement, any amendment hereof or successor hereto, or any other agreement between us and Franchisee, and
Franchisee shall have complied with all the terms and conditions of all such agreements during the terms thereof;
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2024 FDD)
According to the 2024 Burros Fries Franchise Disclosure Document, the term and renewal of the franchise agreement are discussed on page 68. The standard franchise term for a Burros & Fries Business is ten years from the date the agreement is executed. However, Burros Fries reserves the right to modify the term to align with the premise's lease, subject to the franchisee's approval.
Franchisees have the option to renew the agreement for up to two additional ten-year terms, provided that Burros Fries is still offering franchises at that time. To renew, franchisees must provide written notice of their election to renew between twelve and six months before the end of the current term. Burros Fries will respond to the renewal notice within thirty days of receipt.
To be eligible for renewal, the franchisee must not be in default under any provision of the Franchise Agreement or any other agreement with Burros Fries, and must have complied with all terms and conditions of all such agreements during their terms. This ensures that only franchisees in good standing are granted the opportunity to continue operating under the Burros Fries brand.