What does the Devon Creek Franchise Disclosure Document summarize?
Devon_Creek Franchise · 2024 FDDAnswer from 2024 FDD Document
This Franchise Disclosure Document summarizes certain provisions of the Franchise Agreement and other information in plain language. Read this Franchise Disclosure Document and all exhibits carefully.
If Devon Creek Franchise Group, LLC offers you a franchise, it must provide this Disclosure Document to you 14 calendar-days before you sign a binding agreement with, or make a payment to, the franchisor or an affiliate in connection with the proposed franchise sale.
New York requires you to receive this Franchise Disclosure Document at the earlier of the first personal meeting or 10 business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship.
If Devon Creek Franchise Group, LLC 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, DC 20580 and to your state authority listed on Exhibit A.
Source: Item 23 — RECEIPT (FDD pages 45–141)
What This Means (2024 FDD)
According to the 2024 Devon Creek Franchise Disclosure Document, the document summarizes certain provisions of the Franchise Agreement and other information in plain language. The FDD also serves to provide this summarized information to prospective franchisees. Devon Creek must provide the Disclosure Document to you 14 calendar days before you sign a binding agreement or make a payment to Devon Creek or an affiliate in connection with the proposed franchise sale. New York requires you to receive this Franchise Disclosure Document at the earlier of the first personal meeting or 10 business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship.
It is important for prospective franchisees to carefully read the Franchise Disclosure Document and all exhibits. If Devon Creek does not deliver the 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. This should be reported to the Federal Trade Commission in Washington, DC, and to your state authority listed on Exhibit A.
Exhibit H of the Franchise Disclosure Document is a receipt that acknowledges the franchisee received the FDD and its exhibits. These exhibits include a list of state franchise administrators and agents for service of process (Exhibit A), the Franchise Agreement (Exhibit B), Devon Creek's financial statements (Exhibit C), the Operations Manual Table of Contents (Exhibit D), information on Franchised Outlets (Exhibit E), an Acknowledgement Statement (Exhibit F), State Addenda (Exhibit G), and Receipts (Exhibit H).