What is the significance of the 'Issuance Date' field on the Counselor Realty 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 22 — CONTRACTS (FDD page 32)
What This Means (2025 FDD)
According to Counselor Realty's 2025 Franchise Disclosure Document, the 'Issuance Date' on the receipt confirms when the Franchise Disclosure Document (FDD) was provided to the prospective franchisee. Counselor Realty must provide the FDD to a potential franchisee at least 14 calendar days before they sign a binding agreement or make any payments related to the franchise. This 14-day period allows the franchisee adequate time to review the document and seek professional advice. The FDD receipt also serves as an acknowledgement that the franchisee received the document, including all listed exhibits.
The FDD includes critical information about the Counselor Realty franchise system, including the franchise agreement, which is included as Exhibit B. The receipt verifies that this document was received. A prospective franchisee should use this time to carefully review the FDD, understand the terms of the franchise agreement, and assess the risks and benefits of investing in a Counselor Realty franchise.
If Counselor Realty fails to deliver the FDD on time, or if the document contains false or misleading statements, or omits material information, it may constitute a violation of federal and state law. The receipt serves as a record of compliance with these disclosure requirements. The FDD receipt explicitly advises franchisees of their right to report any violations to the Federal Trade Commission and the Wisconsin Commissioner of Securities.