What exhibits should be included in the Chocolate Fish Coffee disclosure document?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
If Chocolate Fish Franchising, 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 any applicable state agency (which are listed in Exhibit A).
- 2.5 Guaranty. If Franchisee is an entity, then Franchisee shall have each Owner sign a personal guaranty of Franchisee's obligations to Chocolate Fish Franchising, in the form of Attachment 3.
EXHIBIT C
MULTI-UNIT DEVELOPMENT AGREEMENT
This Multi-Unit Development Agreement (this "MUDA") is made between Chocolate Fish Franchising, LLC, a Wyoming Limited Liability Company ("Chocolate Fish Franchising") and , a ("Franchisee") on the Effective Date. Background Statement: On the same day as they execute this MUDA, Chocolate Fish Franchising and Franchisee have entered into a Franchise Agreement for the franchise of a Chocolate Fish Coffee business (the "Franchise Agreement"; capitalized terms used but not defined in this MUDA have the meanings given in the Franchise Agreement). Chocolate Fish Franchising and Franchisee desire that Franchisee develop multiple Chocolate Fish Coffee businesses.
EXHIBIT E
STATE ADMINISTRATORS AND AGENTS FOR SERVICE OF PROCESS
We may register this Disclosure Document in some or all of the following states in accordance with the applicable state law. If and when we pursue franchise registration, or otherwise comply with the franchise investment laws, in these states, the following are the state administrators responsible for the review, registration, and oversight of franchises in each state and the state offices or officials that we will designate as our agents for service of process in those states:
Source: Item 23 — RECEIPTS (FDD pages 41–119)
What This Means (2024 FDD)
Based on the 2024 Franchise Disclosure Document, several exhibits are referenced within the document that Chocolate Fish Coffee franchisees should be aware of. Exhibit A lists applicable state agencies where violations of federal and state law may be reported if the FDD is not delivered on time or contains false or misleading statements or material omissions. Attachment 3 is the form of personal guaranty that each owner must sign if the franchisee is an entity, ensuring they are personally liable for the franchisee's obligations to Chocolate Fish Franchising. Exhibit C is the Multi-Unit Development Agreement, outlining the terms for franchisees who commit to developing multiple Chocolate Fish Coffee businesses. Exhibit E lists state administrators and agents for service of process in states where Chocolate Fish Coffee registers its Disclosure Document. These exhibits provide additional details and legal context for various aspects of the franchise agreement and operations.
These exhibits are crucial for prospective Chocolate Fish Coffee franchisees as they provide detailed information on legal obligations, development agreements, and state-specific regulations. Understanding these documents is essential for making informed decisions and ensuring compliance with the franchise agreement. For instance, the personal guaranty (Attachment 3) highlights the significant personal financial risk involved, while the Multi-Unit Development Agreement (Exhibit C) outlines the commitments and conditions for expanding with multiple units. The list of state administrators (Exhibit E) is important for addressing any legal concerns or reporting violations.
While the FDD excerpts mention these specific exhibits, it is important to note that this may not be an exhaustive list of all exhibits included in the complete Chocolate Fish Coffee Franchise Disclosure Document. Franchisees should carefully review the full FDD and all its exhibits to fully understand their rights and obligations. It would be prudent for a prospective franchisee to confirm with Chocolate Fish Coffee that they have received all exhibits and to seek legal counsel to review these documents before signing any agreements.