Under the Chesters EFA, what are the conditions for Chesters and their agents to access the location of the collateral?
Chesters Franchise · 2025 FDDAnswer from 2025 FDD Document
We and our agents and representatives shall have the right at any time during regular business hours to inspect the Collateral and for that purpose to have access to the location of the Collateral.
Source: Item 23 — **RECEIPTS (FDD pages 48–197)
What This Means (2025 FDD)
According to Chesters' 2025 Franchise Disclosure Document, Chesters and their agents have the right to inspect the collateral at any time during regular business hours and, for that purpose, have access to the location of the collateral.
This means that as a Chesters franchisee, you must allow Chesters representatives access to inspect any collateral used for the business during normal operating hours. This collateral is used to secure your obligations under the Equipment Finance Agreement (EFA).
It is important to maintain accurate records of the collateral's location and to inform Chesters of any changes. Franchisees should be aware of this inspection clause and ensure compliance to avoid any potential issues with Chesters.