What details regarding payment terms must be included in the offer sent to Byrider for a Control Assignment?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
If the Franchisee (or any of its owners) at any time determine to effectuate a Control Assignment, the Franchisee agrees to obtain from a responsible and fully disclosed buyer, and send to Company a true and complete copy of a bona fide, executed written offer (which may include a letter of intent) relating exclusively to the Control Assignment.
The offer must include details of the payment terms of the proposed sale and the sources and terms of any financing for the proposed purchase price.
Source: Item 23 — Receipts (FDD pages 88–335)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, if a franchisee intends to execute a Control Assignment, they must first secure a bona fide, written offer from a responsible buyer and provide a complete copy to Byrider. This offer must exclusively pertain to the Control Assignment.
The offer submitted to Byrider must include specific details regarding the payment terms of the proposed sale. This includes outlining the sources of financing the proposed purchase price, as well as the terms associated with that financing.
This requirement allows Byrider to assess the financial stability and suitability of the proposed buyer and to evaluate the terms of the deal. Byrider retains the right of first refusal, enabling them to match the offer and maintain control over the franchise's operation and brand integrity. Franchisees should ensure that any offer they solicit includes comprehensive financial information to avoid delays or rejection by Byrider.