What is the formal name of the disclosure document that the Face Foundrie Area Developer must receive?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
Area Developer further acknowledges that it received the disclosure document required by the Trade Regulation Rule of the Federal Trade Commission entitled "Disclosure Requirements and Prohibitions Concerning Franchising", otherwise known as the Franchise Disclosure Document (FDD), at least fourteen (14) calendar days prior to the date on which this Agreement was executed or any payment by Area Developer for the rights granted under this Agreement.
Source: Item 23 — RECEIPTS (FDD pages 74–257)
What This Means (2025 FDD)
According to the 2025 Face Foundrie Franchise Disclosure Document, the formal name of the disclosure document that an Area Developer must receive is the "Franchise Disclosure Document", also known as the FDD. Face Foundrie must provide this document to the Area Developer at least 14 calendar days before they sign a binding agreement or make any payment related to the franchise sale. This timeframe allows the prospective Area Developer to thoroughly review the document and seek professional advice.
Certain state laws, such as those in Iowa, New York, and Michigan, may require Face Foundrie to provide the FDD even earlier. In Iowa and New York, the FDD must be provided at the first personal meeting or 10 business days before signing any agreement or making a payment, whichever comes first. Michigan law mandates providing the FDD at least 10 business days before executing any binding agreement or making any payment.
The FDD summarizes key provisions of the franchise agreement and other relevant information. If Face Foundrie fails to deliver the FDD on time, or if the document contains false, misleading, or omits material information, it may constitute a violation of federal and state laws. In such cases, the Area Developer can report the violation to the Federal Trade Commission and the appropriate state agency.