What is the acknowledgement of the Franchise Owner(s) and Franchisee regarding the sale of their franchise to Buyer Company without the Franchisor's involvement in the Cool Binz agreement?

According to the 2025 Cool Binz Franchise Disclosure Document, Franchise Owners and Franchisees acknowledge specific conditions when selling their franchise to a Buyer Company without Cool Binz's direct involvement. They confirm that they negotiated the sale independently, without assistance from Cool Binz. They also acknowledge that the purchase price may be paid over time after the closing of the sale.

Furthermore, the Franchise Owner(s) and Franchisee understand and accept the risk of non-payment of the purchase price by the Buyer Company. They explicitly agree not to seek payment of any portion of the purchase price from Cool Binz International, LLC, or its associated parties, including directors, officers, members, shareholders, employees, agents, representatives, heirs, successors, or assigns, under any circumstances.

This agreement protects Cool Binz from financial claims related to independently negotiated franchise sales where the franchisor was not a party. It places the onus on the Franchise Owner(s) and Franchisee to vet the Buyer Company and secure the purchase price, as Cool Binz will not be held responsible for any payment defaults. This arrangement is not uncommon in franchising, as franchisors often want to remain separate from the financial transactions between franchisees and third-party buyers.