What is the timeframe for vacating the appointment of a trustee or receiver for a Cool Binz Business if the appointment occurred without the franchisee's consent?

According to Cool Binz's 2025 Franchise Disclosure Document, if a trustee or receiver is appointed for a Cool Binz Business without the franchisee's consent, the franchisee has 60 days to vacate the appointment. If the appointment is not vacated within this 60-day period, the franchise agreement will automatically terminate.

This provision protects Cool Binz by ensuring that the business is not mismanaged by an unwanted trustee or receiver for an extended period. It also gives the franchisee a limited time to resolve the issue and maintain control of their business.

For a prospective Cool Binz franchisee, this means that if such an appointment occurs without their consent, they must act quickly to have it vacated within 60 days to avoid automatic termination of their franchise agreement. This could involve legal action or other remedies to remove the appointed trustee or receiver.