What form must a Ledgers franchisee execute to transfer telephone numbers to the franchisor?
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.
For value received, Franchisee hereby irrevocably appoints Franchisor as Franchisee's attorney-in-fact, to act in Franchisee's place, for the purpose of assigning any Listings. This appointment gives to us full power to receive, transfer or assign to us or our designee or take any other actions required of Franchisee under the Agreement. Franchisee grants Franchisor full authority to act in any manner proper or necessary to the exercise of the foregoing powers, including full power of substitution and execution or completion of any documents required or requested by any telephone or other company to transfer such Listings and Franchisee ratifies every act that Franchisor may lawfully perform in exercising those powers. This power of attorney shall be effective for a period of two (2) years from the date of expiration, cancellation or termination of Franchisee's rights under the Agreement for any reason. Franchisee declares this power of attorney to be irrevocable and renounces all rights to revoke it or to appoint another person to perform the acts referred to in this instrument. This power of attorney shall not be affected by the subsequent incapacity of Franchisee. This power is created to secure performance of a duty to Franchisor and is for consideration.
Governing Law and Survival.
The validity, construction and performance of this Assignment is governed by the laws of the State in which we are located. All our rights survive the termination, expiration or nonrenewal of the Agreement and inure to our benefit and to the benefit of our successors and assigns.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 Ledgers Franchise Disclosure Document, a franchisee must sign a Telephone Number Assignment Agreement to allow the transfer of telephone numbers to Ledgers. This agreement appoints Ledgers as the franchisee's Attorney in Fact, granting Ledgers the authority to manage the franchisee's telephone listings upon termination or expiration of the franchise agreement.
Specifically, Ledgers is granted full power to receive, transfer, or assign the listings to themselves or their designee. This includes the authority to execute or complete any documents required by telephone companies to transfer such listings. The power of attorney is effective for two years following the termination, cancellation, or expiration of the franchisee's rights under the agreement.
This arrangement ensures that Ledgers can maintain continuity of client contact and business operations even after a franchise agreement ends. The franchisee essentially gives up control over their business phone numbers and listings to Ledgers under the conditions outlined in the agreement. This is a fairly standard practice in franchising, as it protects the brand's presence and customer relationships.
It is important for prospective franchisees to carefully review Schedule 3, the Telephone Number Assignment Agreement, to fully understand the implications of transferring their listings to Ledgers. Franchisees should also note that the validity, construction, and performance of this assignment are governed by the laws of the state in which Ledgers is located.