What defines an 'Approved Vendor' for the Crown Gold Exchange franchise?

According to Crown Gold Exchange's 2024 Franchise Disclosure Document, an 'Approved Vendor' is defined as a supplier, vendor, or distributor of inputs that has been approved by Crown Gold Franchising. Inputs are any goods, services, supplies, fixtures, equipment, inventory, computer hardware and software, real estate, or comparable items related to establishing or operating the Crown Gold Exchange business.

Crown Gold Exchange may require franchisees to purchase or lease inputs from Crown Gold Franchising, Crown Gold Franchising's designee, required vendors, approved vendors, or under Crown Gold Franchising's specifications. Crown Gold Franchising retains the right to change these requirements or the status of any vendor, issuing system standards to make such changes effective.

If Crown Gold Exchange requires a franchisee to purchase a particular input only from an approved vendor or required vendor, and the franchisee wants to use a different vendor, the franchisee must submit a written request for approval. This request must include any information, specifications, or samples requested by Crown Gold Franchising. Crown Gold Franchising may base its approval on criteria such as evaluations of the vendor's capacity, quality, financial stability, reputation, and reliability, as well as inspections, product testing, and performance reviews. Crown Gold Franchising will provide written notification of approval or disapproval within 30 days of receiving the franchisee's request.

Crown Gold Franchising may negotiate prices and terms with vendors on behalf of the system and may receive rebates, payments, or other consideration from vendors related to franchisee purchases. Crown Gold Franchising is not liable to the franchisee for any claim or loss related to any product provided or service performed by any approved vendor or required vendor, including defects, delays, or unavailability of products or services.