How often does the Cool Binz software license renew?
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 a quarterly license. The license automatically renews each quarter and remains effective throughout the term of the Franchise Agreement between Cool Binz and the franchisee.
This means that as a Cool Binz franchisee, you are granted the right to use the COOL BINZ Software, including any upgrades, on your computer. However, this license is specifically for your use and does not extend to other parties, even if they use the same computer. Cool Binz retains the title to the software and may issue new modules that could be separately licensed.
It is important to note that failure to make any payments associated with the software license will result in immediate termination of the license. Additionally, franchisees must use Cool Binz's designated accounting software, which is currently QuickBooks Online, but is subject to change. Franchisees are also required to follow Cool Binz's specified Chart of Accounts, and Cool Binz has the right to change these requirements at their discretion.