Does the Counselor Realty FDD require a date on the disclosure document receipt?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
Issuance Date: __________
Name: _________________________ Address: _________________________
Phone: _________________________
RECEIPT
THIS DISCLOSURE DOCUMENT SUMMARIZES CERTAIN PROVISIONS OF THE FRANCHISE AGREEMENT AND OTHER INFORMATION IN PLAIN LANGUAGE. READ THIS FRANCHISE DISCLOSURE DOCUMENT AND ALL AGREEMENTS CAREFULLY.
IF COUNSELOR OFFERS YOU A FRANCHISE, COUNSELOR MUST PROVIDE THIS FRANCHISE DISCLOSURE DOCUMENT TO YOU 14 CALENDAR DAYS BEFORE YOU SIGN A BINDING AGREEMENT WITH, OR MAKE A PAYMENT TO, COUNSELOR OR ITS AFFILIATES IN CONNECTION WITH THE PROPOSED FRANCHISE SALE.
IF COUNSELOR 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 WISCONSIN COMMISSIONER OF SECURITIES, 345 WEST WASHINGTON AVENUE, 4TH FLOOR, MADISON, WISCONSIN 53703.
I have received a Franchise Disclosure Document dated April 21, 2025 for the State of Wisconsin that included the following exhibits:
Source: Item 23 — RECEIPTS (FDD pages 32–70)
What This Means (2025 FDD)
According to the 2025 Counselor Realty FDD, the receipt for the Franchise Disclosure Document includes a space to acknowledge the date of the document received. The document states that the franchisee must receive the FDD at least 14 calendar days before signing a binding agreement or making a payment to Counselor Realty. The receipt also includes a space for the franchisee's name, address, and phone number.
Counselor Realty emphasizes the importance of carefully reading the Franchise Disclosure Document and all related agreements. They also state that if the FDD is not delivered on time, contains false or misleading statements, or has material omissions, it should be reported to the Federal Trade Commission and the Wisconsin Commissioner of Securities.
This receipt serves as an acknowledgment that the prospective franchisee has received the FDD and is aware of their rights and obligations. It also protects Counselor Realty by documenting that they have provided the required disclosures within the legally mandated timeframe. The inclusion of the date on the receipt is a standard practice in franchising to ensure compliance with disclosure requirements.