What information does Attachment 1 identify and describe regarding the Chocolate Bash franchisee?
Chocolate_Bash Franchise · 2024 FDDAnswer from 2024 FDD Document
- 2.3 Franchisee Control. Franchisee represents that Attachment 1 (i) identifies each owner, officer and director of Franchisee, and (ii) describes the nature and extent of each owner's interest in Franchisee.
If any information on Attachment 1 changes (which is not a Transfer), Franchisee shall notify CB Franchising within 10 days.
Source: Item 22 — CONTRACTS (FDD pages 38–39)
What This Means (2024 FDD)
According to the 2024 Chocolate Bash Franchise Disclosure Document, Attachment 1 to the franchise agreement identifies each owner, officer, and director of the franchisee. It also describes the nature and extent of each owner's interest in the Chocolate Bash franchise.
This attachment serves to provide Chocolate Bash with a clear understanding of the franchisee's ownership structure and the individuals responsible for the business. This allows Chocolate Bash to know who they are dealing with and ensures transparency in the franchise relationship.
If any of the information provided in Attachment 1 changes, such as a change in ownership or the roles of officers and directors, the franchisee is obligated to notify Chocolate Bash within 10 days of the change. This requirement ensures that Chocolate Bash always has current and accurate information about the franchisee's organization.