What is the significance of the signature on the Counselor Realty Franchise Disclosure Document receipt?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
pril 21, 2025, for the State of Wisconsin that included the following exhibits:
| | A. B. C. | Financial Statements Franchise Agreement List of Franchises | | D. E. | List of State Franchise Administrators State Addendum | |----|----------------|------------------------------------------------------------------------------------|-----------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------| | | Name | | Signature | | PROSPECTIVE FRANCHISEE (Print or type name of corporation or partnership) Date | | 1. | | | | | | | 2. | | | | | | | 3. | | | | | | | 4. | | DISCLOSURE DOCUMENT AND MUST BE RETURNED IMMEDIATELY TO: Name, address and telephone number of the franchise seller offering the franchise: | | | THIS PAGE MUST BE SIGNED BY AN OFFICER OF A CORPORATION, THE GENERAL PARTNER(S) OF A PARTNERSHIP, OR ANY INDIVIDUAL RECEIVING A COPY OF THE FRANCHISE COUNSELOR REALTY FRANCHISING, INC. 3200 NW Main Street, Suite 110 Coon Rapids, Minnesota 55448 | 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.
Source: Item 22 — CONTRACTS (FDD page 32)
What This Means (2025 FDD)
According to the 2025 Counselor Realty Franchise Disclosure Document, signing the receipt acknowledges that the prospective franchisee has received the FDD. This is a crucial step in the franchise sales process, as it starts a mandatory waiting period. Counselor Realty must provide the Franchise Disclosure Document to the prospective franchisee at least 14 calendar days before they sign a binding agreement or make any payments related to the franchise. This waiting period allows the potential franchisee adequate time to review the document and seek professional advice. The FDD receipt must be signed by an officer of a corporation, the general partner(s) of a partnership, or any individual receiving a copy of the Franchise Disclosure Document. The completed receipt must be returned immediately to Counselor Realty Franchising, Inc. at their Coon Rapids, Minnesota address.
The FDD receipt also serves as a notification to the prospective franchisee of their rights. If Counselor Realty does not 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. In such cases, the potential franchisee is advised to report the issue to the Federal Trade Commission and the Wisconsin Commissioner of Securities, if applicable.
In summary, the signature on the Counselor Realty Franchise Disclosure Document receipt is a formal acknowledgment of receipt, triggering a mandatory review period and informing the prospective franchisee of their legal rights and avenues for reporting potential violations. This process ensures transparency and protects the interests of both the franchisor and the franchisee during the franchise sales process.