What books and records is the Checkers franchisee obligated to provide to the Appraiser?

According to Checkers' 2025 Franchise Disclosure Document, a franchisee must provide the Appraiser with the books and records that the Appraiser requires, and the franchisee represents and warrants that the books and records are complete and accurate. If the Appraiser is not satisfied with the completeness or accuracy of the books and records, the Appraiser may determine the Agreed Value based on other sources and information that he or she deems appropriate. The Appraiser's determination is final and binding.

This obligation arises if Checkers exercises its option to purchase the franchised restaurant upon termination or expiration of the franchise agreement. As part of this process, an appraiser will determine the value of the restaurant's personal property, excluding cash, short-term investments, and items not meeting Checkers' specifications. The franchisee is required to give the appraiser full access to the restaurant and all books and records to conduct inventories and determine the purchase price for the Purchased Assets.

This requirement ensures that Checkers can accurately assess the value of the restaurant's assets if they choose to purchase it. The franchisee's representation and warranty regarding the completeness and accuracy of the records is a legally binding promise, and failure to comply could have legal and financial repercussions. The franchisee should maintain accurate and complete books and records throughout the term of the franchise agreement to ensure compliance with this provision.