What is the issuance date of the Desi District disclosure document described in this section?
Desi_District Franchise · 2024 FDDAnswer from 2024 FDD Document
Issuance Date: June 17th, 2024
I received a disclosure document dated 6/17/2024, that included the following Exhibits:
- A. State Administrators and Agents for Service of Process
- B. Franchise Agreement (with Guaranty and Non-Compete Agreement)
- C. Multi-Unit Development Agreement
- D. Rider to Lease Agreement
- E. Form of General Release
- F. Financial Statements
- G. Brand Standards Manual Table of Contents
- H. Current and Former Franchisees
- I. State Addenda to Disclosure Document
- J. State Addenda to Agreements
Source: Item 23 — RECEIPTS (FDD pages 52–140)
What This Means (2024 FDD)
According to the 2024 Desi District Franchise Disclosure Document, the issuance date of the document is June 17th, 2024. This date is important because it signifies when the disclosure document was finalized and made available to prospective franchisees.
Franchisors are required to provide the FDD to potential franchisees at least 14 calendar days before any binding agreement is signed or any payment is made. In New York, the document must be provided at the earlier of the first personal meeting or 10 business days before signing any agreement or making any payment related to the franchise. This timeframe allows potential franchisees adequate time to review the document and seek professional advice before making a final decision.
The FDD includes several exhibits, such as state administrators and agents for service of process, the franchise agreement, multi-unit development agreement, rider to lease agreement, form of general release, financial statements, brand standards manual table of contents, list of current and former franchisees, and state addenda to the disclosure document and agreements. These exhibits provide detailed information about the franchise system and the legal and financial obligations of both the franchisor and the franchisee.