Does Dryer Vent Squad have the right to assign a franchisee's Note to a third party?

According to Dryer Vent Squad's 2024 Franchise Disclosure Document, Dryer Vent Squad has the right to assign a franchisee's Note to a third party. The FDD states, "We have the right to assign your Note to a third party." This means that Dryer Vent Squad can sell or transfer the financial obligation of the franchisee's loan to another entity.

While Dryer Vent Squad indicates they have no current plans to sell or assign any franchisee's Note to a third party, they retain the right to do so in the future. If Dryer Vent Squad does sell or assign the Note, they will no longer be primarily obligated to provide the financial goods or services associated with the loan. This could potentially change the terms or conditions of the financing, although the franchisee's obligation to repay the Note would remain.

It is important for prospective Dryer Vent Squad franchisees to understand this right of assignment, as it could impact their relationship with the lender and the management of their debt. Franchisees should carefully review the terms of the Note and consider the potential implications of a third-party assignment before entering into a financing agreement with Dryer Vent Squad.