What is the duration of the Cool Binz software license?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
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- Term: This License is a quarterly license. It shall automatically renew each quarter and shall remain in effect throughout the term of the Franchise Agreement between Franchisor and Licensee.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the COOL BINZ Software license is granted to the franchisee as a renewable license. The license is structured as a quarterly license, meaning it renews automatically every quarter.
This quarterly renewal remains in effect for the entire duration of the Franchise Agreement between Cool Binz and the franchisee. Therefore, as long as the Franchise Agreement is active and in good standing, the software license will continue to renew each quarter.
It is important to note that the franchisor, Cool Binz, retains the title to the software product. The franchisee is only granted the right to use the software under the terms of the license. The franchisor also reserves the right to issue new modules, which may be separately licensed, potentially incurring additional costs for the franchisee.