What is the Ledgers franchisee obligated to do regarding the transfer or assignment of Listings?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
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.
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.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 Ledgers Franchise Disclosure Document, as a condition of signing the Franchise Agreement, Ledgers requires the franchisee to appoint them as Attorney in Fact, which takes effect upon the expiration or termination of the Agreement. This appointment pertains to the telephone numbers, listings, and advertisements (collectively referred to as "Listings") related to the franchise. Upon expiration or termination of the agreement, the franchisee's right to use the Listings terminates.
In the event of termination or expiration of the Agreement, the franchisee is obligated to pay all outstanding amounts connected to the Listings. Furthermore, at Ledgers's request, the franchisee must take necessary actions to transfer the Listings to Ledgers or their designated agent. This includes installing and maintaining an intercept message on the Listings at the franchisee's expense, disconnecting the Listings, and cooperating with Ledgers in the removal or relisting of the Listings.
Ledgers retains the right to require the franchisee to "port" or transfer all Listings to either Ledgers or an approved call routing and tracking vendor. To facilitate this, the franchisee irrevocably appoints Ledgers as their attorney-in-fact for assigning any Listings. This appointment grants Ledgers the authority to receive, transfer, or assign the listings to themselves or their designee, or to take any other actions required of the franchisee under the Agreement. This power of attorney is effective for two years from the date of expiration, cancellation, or termination of the franchisee's rights under the Agreement and is deemed irrevocable.