What is the document called that outlines the agreement between the Franchisor and Franchisee for a Cool Binz franchise?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
Issuance Date: March 28, 2025
Franchisor authorizes the respective state agencies identified on Exhibit A to receive service of process for it in the particular state.
I have received a Franchise Disclosure Document dated March 28, 2025that included the following Exhibits: A – Form of Agreements A-1 - Franchise Agreement and Addenda A-2 - Confidentiality / Non-Disclosure Agreement A-3 - General Release(s) – Upon Renewal or Assignment B – Financial Statements C – State Administrators/ Agents for Service of Process D – State Addenda to the Disclosure Document E – List of Franchisees F – List of Former Franchisees G – 1 – Franchise Organizations G – 2 – Independent Franchisee Associations H – Disclosure Acknowledgement Questionnaire I – Operations Manual Table of Contents J - State Effective Dates Page K - Receipts The franchise seller is Cool Binz International, LLC, 5405 Data Court, Ann Arbor, MI 48108, (734) 864- 9799.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the agreement outlining the terms between the franchisor and franchisee is called the "Franchise Agreement". Exhibit A-1 of the FDD includes the Franchise Agreement and Addenda.
Prospective franchisees should carefully review the Franchise Agreement, as it details the obligations, responsibilities, and rights of both Cool Binz and the franchisee. Addenda to the Franchise Agreement may also exist, which could modify or supersede certain terms of the original agreement. For example, there are addenda for use in California and Minnesota that address specific state law requirements.
It is standard practice in franchising to have a comprehensive franchise agreement that governs the relationship between the franchisor and franchisee. The Franchise Agreement is a legally binding document, and franchisees should seek legal counsel to fully understand its implications before signing.