What is the Carbones Pizzeria franchisee's obligation regarding notification of changes in the Statement of Ownership and Management last submitted to Franchisor?
Carbones_Pizzeria Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee acknowledges that this Statement of Ownership and Management applies to the M & T Pizza Incorporated Franchise Agreement. Franchisee shall immediately notify Franchisor upon any change in the information contained in this Statement of Ownership and Management, and upon request of Franchisor, complete an updated or new Statement of Ownership and Management and Guaranty executed by all owners of Franchisee.
Source: Item 23 — RECEIPTS (FDD pages 30–116)
What This Means (2025 FDD)
According to the 2025 Carbones Pizzeria Franchise Disclosure Document, a franchisee must immediately notify Carbones Pizzeria of any changes to the information contained in their Statement of Ownership and Management. This statement likely includes details about the ownership structure of the franchise, such as the names and contact information of the owners, partners, or members.
Furthermore, upon request from Carbones Pizzeria, the franchisee must complete an updated or new Statement of Ownership and Management and provide a guaranty executed by all owners of the franchise. This ensures that Carbones Pizzeria has current and accurate information about who owns and manages each franchise location.
This requirement is important for maintaining clear lines of communication and accountability within the Carbones Pizzeria franchise system. It allows Carbones Pizzeria to know who they are dealing with and to ensure that all owners are committed to upholding the standards of the franchise. Failure to comply with this requirement could potentially lead to issues with the franchise agreement.