What information are Even Hotels franchisees required to provide to Servicers to facilitate compliance with Applicable Law?
Even_Hotels Franchise · 2025 FDDAnswer from 2025 FDD Document
You further agree to cooperate and provide information requested by Servicers, as Servicers determine necessary, to facilitate Servicers' compliance with Applicable Law, including without limitation the rules and regulations promulgated by OFAC and the USA PATRIOT Act.
As part of your obligation to comply with Applicable Law, you agree not to use the Merchant Account and/or the Services for illegal transactions, for example, those prohibited by the Unlawful Internet Gambling Enforcement Act, 31 U.S.C.
Section 5361 et. seq., as may be amended from time to time or for processing and accepting transactions in certain jurisdictions pursuant to 31 CFR Part 500 et. seq. and other laws enforced by OFAC.
Source: Item 23 — RECEIPTS (FDD pages 99–438)
What This Means (2025 FDD)
According to Even Hotels' 2025 Franchise Disclosure Document, franchisees must cooperate and provide information requested by Servicers. This information is deemed necessary by the Servicers to ensure compliance with Applicable Law. This includes, but is not limited to, rules and regulations promulgated by the Office of Foreign Assets Control (OFAC) and the USA PATRIOT Act.
This requirement is part of the franchisee's broader obligation to comply with all Applicable Laws. The franchisee also agrees not to use the Merchant Account and/or the Services for illegal transactions, such as those prohibited by the Unlawful Internet Gambling Enforcement Act. They must also avoid processing or accepting transactions in certain jurisdictions as outlined by OFAC regulations.
For a prospective Even Hotels franchisee, this means they must be prepared to provide any information requested by the Servicers to ensure legal compliance. Failure to cooperate and provide necessary information could result in a breach of the franchise agreement and potential legal consequences. This also highlights the importance of understanding and adhering to all applicable laws and regulations related to financial transactions and prohibited activities.