What is Byrider's standard regarding disclosing information during closing?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
If Byrider Franchising Partners, LLC offers you a franchise, it must provide this Disclosure Document to you 14 calendar days before you sign a binding agreement with, or make a payment to, Byrider Franchising Partners, LLC, or any affiliate in connection with the proposed franchise sale. Under Iowa law, we must give you this Disclosure Document at the earlier of our 1st personal meeting or 14 calendar days before you sign an agreement with, or make a payment to, us or an affiliate in connection with the proposed franchise sale. Under Michigan law, we must give you this Disclosure Document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first. Under New York law, we must provide this Disclosure Document at the earlier of the 1st personal meeting or 10 business days before you sign a binding agreement with, or make a payment to, us or an affiliate in connection with the proposed franchise sale.
BYRIDER FRANCHISING PARTNERS, LLC ("Franchisor"), through the use of this document, desires to ascertain (a) that the undersigned, individually and as a representative of any legal entity established to acquire the franchise rights ("Franchisee"), fully understands and comprehends that the purchase of a BYRIDER sales finance franchise is a business decision, complete with its associated risks, and (b) that Franchisee is not relying upon any oral statement, representations, promises or assurances during the negotiations for the purchase of the franchise which have not been authorized by the Franchisor. In that regard, the undersigned acknowledges that:
Please sign this copy of the receipt, print the date on which you received this Franchise Disclosure Document, and return it, by mail to Byrider Franchising Partners, LLC, 12802 Hamilton Crossing Blvd., Carmel, Indiana 46032.
If Byrider Franchising Partnesr, LLC does not deliver this Disclosure Document on time or if it contains a false or misleading statement, or a material omission, a violation of federal law and state law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580 and the appropriate state agency identified on Exhibit G.
Source: Item 23 — Receipts (FDD pages 88–335)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, Byrider Franchising Partners, LLC must provide the disclosure document to prospective franchisees 14 calendar days before they sign a binding agreement or make a payment related to the franchise sale. However, this timeframe varies by state. In Iowa, the disclosure must be provided at the earlier of the first personal meeting or 14 calendar days before signing an agreement or making a payment. In Michigan, the disclosure must be provided at least 10 business days before the execution of any binding agreement or payment of any consideration, whichever comes first. New York requires the disclosure at the earlier of the first personal meeting or 10 business days before signing an agreement or making a payment.
Byrider also requires that franchisees acknowledge they are not relying on any unauthorized oral statements, representations, promises, or assurances made during negotiations. This is done through a Disclosure Acknowledgment Statement, ensuring the franchisee understands the purchase is a business decision with associated risks. Franchisees must also sign a copy of the receipt of the Franchise Disclosure Document and return it to Byrider Franchising Partners, LLC.
If Byrider does not deliver the Disclosure Document on time, or if it contains false, misleading statements, or material omissions, it may constitute a violation of federal and state law. Such violations should be reported to the Federal Trade Commission and the appropriate state agency. This requirement aims to protect potential franchisees by ensuring they receive accurate and timely information to make informed decisions.