What evidence of compliance with termination obligations must a Cool Binz franchisee provide, and within what timeframe?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
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- deliver to us, within 30 days, evidence that is satisfactory to us of your compliance with each of the foregoing obligations.
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- deliver to us, within seven (7) days, all electronic and hard copies of Customer Information;
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- remove all signage from vehicles and store fronts and deliver to us, within five (5) days, the Operations Manual and all copies thereof, and all proprietary information, confidential material, Required Software (including the COOL BINZ Software), signs, sign-faces, marketing and advertising materials, forms, uniform patches, decals (or proof of their removal) and other materials containing any Mark or otherwise identifying or relating to a COOL BINZ Business, and allow us, without liability to you or third parties, to remove all of these items from your vehicles and place of business;
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- notify the telephone company and all telephone directory publishers and Internet directory listings (including Google, Yahoo! and others) of the termination or expiration of your right to use any listing, telephone, telecopy, or other numbers and any telephone directory listings associated with any Mark, and authorize the transfer of these numbers and directory listings to us or, at our direction, instruct the telephone company to forward all calls made to your telephone number to numbers we specify.
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- agree to cooperate with us to effectuate any change in telephone numbers or other transfers of our property to us, including the signing of any forms, authorizations or other documents necessary;
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Sell to us or our designee, at Franchisor's option, all COOL BINZ containers, trucks, other equipment, and all inventory in useable form bearing the Proprietary Marks at the lesser of the original purchase price thereof or at its then-current value, which value shall be decided in our reasonable judgment, within 15 days following the date of termination or expiration;
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, a franchisee must provide evidence of compliance with post-termination obligations within a specific timeframe. Specifically, the franchisee must deliver evidence satisfactory to Cool Binz that they have met all post-termination obligations within 30 days of termination or expiration of the franchise agreement.
These obligations include several key actions the franchisee must undertake upon termination or expiration. Within specified short timeframes, the franchisee must deliver all electronic and hard copies of customer information within seven days. They must also remove all signage from vehicles and storefronts. Within five days, they must return the Operations Manual and all copies, proprietary information, confidential material, required software (including the COOL BINZ Software), signs, sign-faces, marketing and advertising materials, forms, uniform patches, decals (or proof of their removal) and other materials containing any Mark or otherwise identifying or relating to a COOL BINZ Business.
Furthermore, the franchisee is required to notify the telephone company, all telephone directory publishers, and Internet directory listings of the termination or expiration of their right to use any listing, telephone, telecopy, or other numbers and any telephone directory listings associated with any Mark. They must also authorize the transfer of these numbers and directory listings to Cool Binz or instruct the telephone company to forward all calls made to their telephone number to numbers specified by Cool Binz. The franchisee must cooperate with Cool Binz to effectuate any change in telephone numbers or other transfers of Cool Binz's property, including signing necessary forms, authorizations, or other documents. Finally, the franchisee must sell to Cool Binz or its designee, at Cool Binz's option, all COOL BINZ containers, trucks, other equipment, and all inventory in useable form bearing the Proprietary Marks at the lesser of the original purchase price thereof or at its then-current value, which value shall be decided in Cool Binz's reasonable judgment, within 15 days following the date of termination or expiration.