What is a condition to signing the Ledgers Franchise Agreement regarding Attorney in Fact?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
Schedule 3- Telephone Number Assignment
THIS TELEPHONE NUMBER ASSIGNMENT AGREEMENT is made between Loyalty Business Services LLC doing business as Ledgers ("Franchisor", "we", "us", or "our") and the franchisee named below ("Franchisee", "you" or "your").
BACKGROUND
- A. The parties are entering into a Franchise Agreement ("Agreement").
- B. As a condition to signing the Franchise Agreement, we have required that you appoint us Attorney in Fact, to take effect upon the expiration or termination of the Agreement, as to the telephone numbers, listings, and advertisements (collectively "Listings") relating to your Franchise.
TELEPHONE NUMBER ASSIGNMENT
Upon expiration or termination of the Agreement for any reason, Franchisee's right of use of the Listings shall terminate. In the event of termination or expiration of the Agreement, Franchisee will pay all amounts owed in connection with the Listings, and to immediately at Franchisor's request,
- A. take any other action as may be necessary to transfer the Listings to Franchisor or Franchisor's designated agent,
- B. install and maintain, at Franchisee's sole expense, an intercept message, in a form and manner acceptable to Franchisor on any or all of the Listings;
- C. disconnect the Listings; and/or
- D. cooperate with Franchisor or its designated agent in the removal or relisting of the Listings
Franchisor may require Franchisee to "port" or transfer to Franchisor or an approved call routing and tracking vendor all Listings.
Appointment as Attorney in Fact.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 Ledgers Franchise Disclosure Document, a condition to signing the Franchise Agreement is that the franchisee must appoint Ledgers as their Attorney in Fact. This appointment becomes effective upon the expiration or termination of the Franchise Agreement. The appointment pertains specifically to the telephone numbers, listings, and advertisements associated with the franchisee's Ledgers business.
This requirement ensures that upon termination or expiration of the agreement, Ledgers maintains control over the telephone numbers and listings associated with the franchise. This allows Ledgers to redirect customer inquiries and maintain brand consistency. The franchisee's right to use these listings terminates upon the agreement's expiration or termination.
Upon termination or expiration, the franchisee is obligated to pay all outstanding amounts related to the listings. Additionally, the franchisee must take necessary actions to transfer the listings to Ledgers or their designated agent. This may include installing an intercept message, disconnecting the listings, or cooperating in the removal or relisting of the listings. Ledgers retains the right to require the franchisee to transfer the listings to them or an approved vendor.
For a prospective Ledgers franchisee, this means they will relinquish control over their business phone numbers and listings upon leaving the franchise system. This is a fairly standard practice in franchising to protect the brand and goodwill associated with the phone numbers and advertising. Franchisees should consider the implications of this when building their customer base and marketing strategies, as they will not retain these assets if they leave the Ledgers system.