When signing the Cool Binz addendum receipt, what information must the franchisee provide?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 23: RECEIPTS]
Entity Name (if applicable)
RECEIPT (YOUR COPY)
This disclosure document summarizes certain provisions of the franchise agreement and other information in plain language. Read this disclosure document and all agreements carefully.
If Cool Binz International, LLC ("Franchisor") offers you a franchise, Franchisor must provide this Disclosure Document to you 14 calendar days before you sign a binding agreement or make a payment to us or an affiliate in connection with the proposed franchise sale.
New York requires that we give you this Disclosure Document at the earlier of the first personal meeting or 10 business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship. Michigan requires that we give you this Disclosure Document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first.
If COOL BINZ does not deliver this Disclosure Document on time or if it contains a false or misleading statement, or a material omission, a violation of federal and state law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580 and the appropriate State agency Identified in Exhibit E.
Issuance Date: March 28, 2025
Franchisor authorizes the respective state agencies identified on Exhibit A to receive service of process for it in the particular state.
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. Any additional individual franchise sellers involved in offering the COOL BINZ franchises are:
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
Based on the 2025 Cool Binz Franchise Disclosure Document, the franchisee must provide their entity name, if applicable, when signing the addendum receipt. The receipt serves as an acknowledgment that the franchisee has received the Franchise Disclosure Document (FDD) and its exhibits, which include the franchise agreement, confidentiality agreement, financial statements, and other important documents.
Cool Binz requires that the Disclosure Document be provided to the franchisee at least 14 calendar days before signing a binding agreement or making any payment. This timeframe is mandated to allow prospective franchisees adequate time to review the document and seek professional advice. Some states, like New York and Michigan, have specific requirements regarding the timing of the FDD delivery, linking it to the first personal meeting or a certain number of business days before signing the agreement or making a payment.
The FDD also states that if Cool Binz fails to deliver the Disclosure Document on time, or if the document contains false or misleading statements, or material omissions, it could be a violation of federal and state laws. In such cases, the franchisee is advised to report the issue to the Federal Trade Commission and the appropriate state agency. The issuance date of the FDD is March 28, 2025, and it includes a list of exhibits, such as the franchise agreement, confidentiality agreement, and state addenda.
In summary, the receipt confirms that the franchisee has received and acknowledged the FDD and its contents, and it highlights the importance of carefully reviewing the document before making any commitments. Providing the entity name on the receipt is a formal step in the franchise process, ensuring that all parties are aware of their rights and obligations.