What is the purpose of the 'Receipts' section in the Cool Binz Franchise Disclosure Document?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 23: RECEIPTS]
The final pages of this Disclosure Document (Exhibit K of the Disclosure Document) are detachable receipt pages acknowledging your receipt of the Disclosure Document. If these pages, or any other pages or exhibits are missing from your copy, please notify us immediately. You should sign both copies of the receipt. You should retain one signed copy for your records and return the other signed copy to: Franchise Development, 5405 Data Court, Ann Arbor, MI 48108 or via email at legal@belfrangroup.com.
| Have you received the Cool Binz International, LLC Franchise Disclosure Document and each exhibit we provided to you? Yes or No |
|---|
| Did you sign a receipt for the Franchise Disclosure Document indicating the date you |
| received it? |
| Yes or No |
Issuance Date: March 28, 2025
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 Receipts section, found in Exhibit K, serves as an acknowledgment that the prospective franchisee has received the FDD. This section confirms that Cool Binz provided the document, which summarizes the franchise agreement's key provisions and other essential information. The FDD emphasizes the importance of carefully reading the document and all related agreements.
The Receipts section includes a place for the franchisee to sign, acknowledging receipt of the FDD and its exhibits. By signing, the franchisee confirms they received critical documents such as the Franchise Agreement, Confidentiality Agreement, Financial Statements, and lists of current and former franchisees. The franchisee retains one signed copy for their records and returns the other to Cool Binz, either by mail or email.
Furthermore, the Disclosure Acknowledgment Questionnaire, found in Exhibit H, includes questions for the prospective franchisee to confirm they have received the FDD, signed a receipt for it, discussed the franchise with advisors, understand the factors influencing success, and haven't received any earnings claims outside of what's in the FDD. This questionnaire does not need to be completed by prospective franchisees residing in California, Maryland, and Washington.
In essence, the Receipts section and related acknowledgments are crucial for compliance and transparency in the franchise sales process. They ensure the franchisee has access to all necessary information and understands their rights and obligations before entering into a franchise agreement with Cool Binz.