When is the Cool Binz Transfer Fee due?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
- a. our then-current Transfer Fee, as published in our Operations Manual. The Transfer Fee is due upon our preparation of the required transfer documentation (consent to transfer and assignment agreement and/or preparation of transferee's franchise agreement), and is non-refundable at such time;
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the Transfer Fee is due upon Cool Binz's preparation of the required transfer documentation. This documentation includes the consent to transfer and assignment agreement, as well as the preparation of the transferee's franchise agreement. Once Cool Binz prepares these documents, the Transfer Fee becomes due.
It is important to note that the Transfer Fee is non-refundable at the time the transfer documentation is prepared. This means that once Cool Binz has created the necessary paperwork for the transfer, the fee must be paid and will not be returned, regardless of whether the transfer is ultimately completed.
This policy is fairly standard in franchising, as the franchisor incurs administrative and legal costs in preparing the transfer documents. Prospective franchisees should be aware of this non-refundable aspect and ensure they are committed to the transfer before Cool Binz begins preparing the documentation.