Does the Face Foundrie Franchisee Acknowledgement require the franchisee to confirm they signed a receipt for the Face Foundrie Disclosure Document?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
| Yes | No | 1. Have you received and personally reviewed the Franchise Disclosure Document ("Disclosure Document") we provided? |
|---|---|---|
| Yes | No | 2. Did you sign a receipt for the Disclosure Document indicating the date you received it, which was at least 14 calendar days before signing the Franchise Agreement? |
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the Franchisee Acknowledgement does include a question about signing a receipt for the Franchise Disclosure Document (FDD). Specifically, prospective franchisees must confirm whether they signed a receipt indicating the date they received the FDD, and that this receipt was signed at least 14 calendar days before signing the Franchise Agreement.
This acknowledgement is important because it verifies that the franchisee received and had adequate time to review the FDD before committing to the franchise. The 14-day period is mandated by the FTC's Franchise Rule and various state franchise laws to ensure franchisees have sufficient opportunity to consider the investment and seek professional advice. By signing the acknowledgement, the franchisee confirms they met this requirement.
It is important to note that the Franchisee Acknowledgement explicitly states that it should not be signed if the franchise is subject to state franchise registration/disclosure laws in certain states, including California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, or Wisconsin. Additionally, the acknowledgement should not be signed if the franchise is to be operated in, or the franchisee is a resident of, Maryland. This suggests that Face Foundrie has specific procedures for these states to comply with their franchise laws.
Overall, this acknowledgement serves as a protective measure for both the franchisee and Face Foundrie, ensuring compliance with disclosure requirements and confirming the franchisee's understanding of the franchise agreement terms. Prospective franchisees should carefully review and truthfully answer all questions in the Franchisee Acknowledgement.