What is the timeframe for a Cinch I.T. franchisee to satisfy a judgment to avoid being in default?

According to the 2024 Cinch I.T. Franchise Disclosure Document, a franchisee has 30 days to satisfy any judgment against them, unless a supersedeas or other appeal bond has been filed. Failure to satisfy the judgment within this timeframe constitutes a default under the agreement.

Additionally, a Cinch I.T. franchisee has only five days to obtain a discharge of an execution levied against them, their business, property, or any person with a controlling interest in them. They also have 30 days to obtain dismissal of any suit to foreclose any lien or mortgage against the franchised business, its equipment, or the land on which it is situated. Similarly, a franchisee has 30 days to obtain dismissal or release of any attachment of or liens on their bank accounts, property, or receivables.

These stipulations are important for prospective franchisees to consider, as failure to meet these deadlines can result in default and potential termination of the franchise agreement. Franchisees should be prepared to act swiftly to address any legal judgments or actions to avoid jeopardizing their franchise.