Does the Counselor Realty FDD specify that the receipt must be delivered before signing the franchise agreement?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
The last two pages of this Disclosure Document (following the exhibits and attachments) are documents acknowledging receipt of this Disclosure Document by you (one copy for you and one copy for us). The Receipt must be signed and dated and delivered to us at least 14 calendar days before the signing of the Franchise Agreement or payment of any fee by you.
Source: Item 23 — RECEIPTS (FDD pages 32–70)
What This Means (2025 FDD)
According to Counselor Realty's 2025 Franchise Disclosure Document, the receipt of the Franchise Disclosure Document (FDD) must be signed, dated, and delivered to Counselor Realty at least 14 calendar days before the signing of the Franchise Agreement or payment of any fee. This requirement ensures that prospective franchisees have adequate time to review the FDD and make informed decisions.
This 14-day review period is a standard practice in franchising, mandated by the Federal Trade Commission (FTC) and various state laws to protect potential franchisees. It allows individuals to carefully consider the terms and conditions of the franchise agreement, seek legal and financial advice, and conduct due diligence before committing to the franchise.
Counselor Realty emphasizes the importance of this review period by stating that franchisees may not make any payments or sign any contracts related to the franchise until 14 calendar days after signing the Acknowledgement of Receipt at the back of the FDD. This provides a safeguard for the franchisee, ensuring they have ample opportunity to understand the obligations and potential risks associated with the franchise before entering into a binding agreement.