What is the deadline for Christian Brothers Automotive to identify Land or an Existing Business for purchase?
Christian_Brothers_Automotive Franchise · 2025 FDDAnswer from 2025 FDD Document
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- CBAC agrees to identify Land or an Existing Business for purchase and begin the process of negotiating a letter of intent for such purchase no later than one year following the date of this Letter Agreement. In the event CBAC fails to meet this deadline, you will have a thirty (30) day option to terminate your relationship with CBAC and have your Down Payment (minus the $13,500 non-refundable portion) returned. If you choose not to terminate your relationship with CBAC within this thirty (30) day period, your Franchise relationship with CBAC will continue, subject to the terms of this Letter Agreement.
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- You acknowledge that CBAC may not be able to purchase Land or acquire an Existing Business in the Location. CBAC has the right to decline to purchase any Land and/or any Existing Business for any reason whatsoever. CBAC agrees to notify you in writing if it determines, for any reason, that it will not purchase Land or acquire an Existing Business.
Source: Item 22 — CONTRACTS (FDD page 76)
What This Means (2025 FDD)
According to the 2025 Christian Brothers Automotive Franchise Disclosure Document, Christian Brothers Automotive agrees to identify Land or an Existing Business for purchase and begin the process of negotiating a letter of intent for such purchase no later than one year following the date of the Letter Agreement.
If Christian Brothers Automotive fails to meet this deadline, the franchisee has a thirty-day option to terminate their relationship with Christian Brothers Automotive and have their Down Payment returned, minus the $13,500 non-refundable portion.
If the franchisee chooses not to terminate their relationship with Christian Brothers Automotive within this thirty-day period, their Franchise relationship with Christian Brothers Automotive will continue, subject to the terms of the Letter Agreement. Christian Brothers Automotive retains the right to decline to purchase any Land and/or any Existing Business for any reason and will notify the franchisee in writing if it determines it will not purchase Land or acquire an Existing Business.