What are the requirements for a Ledgers franchisee to renew or extend their franchise term?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
A. Term.
This Agreement will commence upon its Effective Date and will last for a term of ten (10) years (the "Term").
B. Renewal and Subsequent Renewals.
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 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 38–41)
What This Means (2025 FDD)
According to Ledgers's 2025 Franchise Disclosure Document, the initial franchise agreement lasts for a term of ten years. To renew the franchise agreement at the end of the term, a franchisee must be in compliance with the existing agreement and meet other conditions for renewal. The new contract will be on the then-current form, but Ledgers states that they will not change material terms, including the franchisee's territory, in the renewal agreement.
To initiate the renewal process, the franchisee must notify Ledgers in writing at least 90 days before the expiration of the current agreement. Additionally, the franchisee is required to execute a general release of all claims they may have against Ledgers, as detailed in Schedule 6 of the franchise agreement.
Finally, the franchisee must pay any required renewal fee, if applicable. Meeting these conditions allows the franchisee to enter into a new franchise agreement with Ledgers, continuing their operation under the Ledgers brand.