What is the Cinch I.T. franchisee required to provide in the 'Date' section for Owner Individuals?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
- (b) In the event You are a business entity (including but not limited to a corporation, a limited liability company, a partnership, a limited liability partnership, a trust), in addition to being newly formed, You must complete and sign the Principal Owner's Statement attached to this Agreement as Addendum D and each individual with an ownership interest in You must also sign Addendum D.
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
Based on the 2024 Franchise Disclosure Document, Cinch I.T. requires individuals with ownership interest in a franchisee business entity to sign Addendum D, the Principal Owner's Statement. While the document mentions that Addendum D must be completed and signed, it does not specify what date-related information, if any, must be provided within that statement.
Given that the FDD does not detail the specific date-related information required in Addendum D, prospective Cinch I.T. franchisees should clarify with the franchisor what date information is needed for the Principal Owner's Statement. This might include the date the statement is signed, the owner's birthdate, or the date the ownership interest was established.
Understanding the exact requirements for Addendum D is crucial for ensuring full compliance with Cinch I.T.'s franchise agreement and avoiding potential delays or issues during the franchise approval process. Therefore, direct communication with Cinch I.T. is recommended to obtain a clear understanding of these requirements.