What is the term length of the Cool Binz software license?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
equent upgrades, on Licensee's computer. This License does not extend to other parties, even if they use the same computer. Franchisor reserves the right to issue new modules, which may be separately licensed.
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- Title: Title to the Product shall remain with Franchisor.
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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.
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Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to the 2025 Cool Binz Franchise Disclosure Document, the COOL BINZ Software license has a quarterly term. The license automatically renews each quarter and remains effective for the entire duration 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 for three-month periods, with automatic renewals contingent upon the continuation of your Franchise Agreement. The license remains active as long as you are a franchisee in good standing with Cool Binz.
It is important to note that the franchisor retains the title to the software, and the franchisee is responsible for paying the then-current monthly software fee and signing and maintaining the quarterly renewable COOL BINZ Software licensing agreement. Failure to make any payment shall result in the immediate termination of this License.