What is considered a National and Regional Account (NORA) customer for Cool Binz?

According to Cool Binz's 2025 Franchise Disclosure Document, a National and Regional Account (NORA) customer is defined as any customer who, either directly or through agents, licensees, or other third parties, owns, manages, controls, or has responsibility for a business in more than one location for the benefit of the Cool Binz system. This definition applies regardless of the aggregate contract amount of the services to be performed. Cool Binz retains the exclusive right to negotiate and enter into agreements with NORA customers. Any disputes regarding whether a customer qualifies as a NORA will be determined solely by Cool Binz, and their decision is final and binding.

For a prospective Cool Binz franchisee, understanding the NORA program is crucial because it outlines how large, multi-location clients are handled. If a NORA customer requires services in a franchisee's territory, Cool Binz may offer the franchisee the opportunity to perform those services, provided the franchisee is qualified and in substantial compliance with the franchise agreement. The franchisee is expected to adhere strictly to Cool Binz's performance standards and any specific service guidelines set by the NORA customer.

However, franchisees are not obligated to accept NORA referrals. If a franchisee is unable or unwilling to provide services under the NORA contract terms, Cool Binz reserves the right to provide the services directly, through an affiliate, or by contracting with another party. In such cases, the original franchisee will not be entitled to any proceeds from those services. This highlights a potential risk where franchisees might miss out on revenue from large accounts if they cannot meet the NORA requirements or choose not to participate.

Furthermore, Cool Binz may charge a NORA Fee of up to 5% of gross sales generated by the account to cover the costs of managing these national and regional accounts. While Cool Binz does not plan to charge a fee for simple referrals where they do not directly manage the relationship, they reserve the right to do so. Franchisees should be aware of this potential fee and factor it into their financial projections. Coordinating efforts and results of NORA programs requires franchisees to provide Cool Binz with copies of all reports, forms, and notices relating to their pursuit and servicing of a NORA national contract, ensuring alignment and compliance with Cool Binz's standards.