When does the guarantee of performance for Cool Binz expire?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
E. CONTINUING OBLIGATIONS AND OTHER OBLIGATIONS.
All of our and your obligations that expressly or by their nature survive the expiration or termination of this Agreement, will continue in full force and effect subsequent to and notwithstanding its expiration or termination, until they are satisfied in full or by their nature expire.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
Based on the 2025 Cool Binz Franchise Disclosure Document, the agreement outlines continuing obligations that extend beyond the expiration or termination of the franchise agreement. Specifically, all obligations that, by their nature, are meant to survive the end of the agreement will remain in effect until they are fully satisfied or naturally expire.
This means that certain responsibilities and duties a Cool Binz franchisee has to the franchisor do not simply end when the franchise term is up. Instead, these obligations continue, potentially for a significant period, depending on the nature of the obligation.
For a prospective Cool Binz franchisee, this highlights the importance of understanding all aspects of the franchise agreement, particularly those related to post-termination or expiration duties. It is crucial to carefully review these sections with legal counsel to fully grasp the scope and duration of these continuing obligations and how they might impact the franchisee even after the franchise business is no longer operating.