How many days before the expiration of the Ledgers Agreement must I notify Ledgers in writing if I want to renew?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
Upon the completion of the Term, or a renewal Term as the case may be, if you are in compliance with this Agreement and meet other conditions for renewal, you may enter into a new contract, on the then-current form. We will not change material Terms including your Territory in your renewals. If you wish to renew this Agreement, you must:
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- notify us in writing at least 90 days before the expiration of this Agreement;
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- execute a general release of all claims you may have against us (See Schedule 6);
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- pay any required renewal fee (if any);
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers's 2025 Franchise Disclosure Document, the initial term of the agreement is ten years. If a franchisee wishes to renew their Ledgers franchise agreement, they must notify Ledgers in writing at least 90 days before the expiration of the current agreement.
In addition to providing timely written notice, the franchisee must also execute a general release of all claims against Ledgers, as detailed in Schedule 6 of the agreement. They must also pay any required renewal fee, if applicable at the time of renewal.
Meeting these conditions ensures that a franchisee who is in compliance with the agreement has the opportunity to continue operating their Ledgers franchise under a new contract, based on the then-current form. Ledgers also states that they will not change material terms, including the franchisee's territory, during renewals.
It is important for prospective franchisees to understand these renewal terms, as failing to meet the notification deadline or other conditions could result in the franchise agreement not being renewed. This could lead to a loss of the business and the inability to continue operating under the Ledgers brand.