What is the cure period for defaults on other agreements with the franchisor for a Pearce Bespoke franchise?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
- (10) Franchisee defaults in any other agreement with Franchisor, its subsidiaries or affiliates, and does not cure such default in accordance with the terms of such other agreement;
B. Procedure.
Except as described below, Franchisee will have thirty (30) days, or such longer period as applicable law may require, after its receipt from Franchisor of a written Notice of Termination within which to remedy any default hereunder, and to provide evidence thereof to Franchisor. If Franchisee fails to correct the alleged default within that time (or such longer period of time as applicable law may require), this Agreement will terminate without further notice to Franchisee effective immediately when the thirty (30) day period (or such longer period as applicable law may require) expires. Franchisor may terminate this Agreement immediately upon delivery of written notice to Franchisee, with no opportunity to cure, if the termination results from any of the following: (1) Franchisee repeatedly fails to comply with one or more material requirements of this Agreement; (2) the nature of Franchisee's breach makes it not curable; (3) Franchisee willfully and repeatedly deceives customers relative to the source, nature or quality of goods sold; (4) any default under items (1), (3), (6), (8), (9), (11), (12), (13) or (14) in Section 15(A) above; or (5) Franchisee willfully and materially falsifies any report, statement, or other written data furnished to Franchisor either during the franchise application process or after Franchisee is awarded a franchise.
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke Franchise Disclosure Document, if a franchisee defaults on any other agreement with Pearce Bespoke, its subsidiaries, or affiliates, the cure period is determined by the terms of that specific agreement.
In general, Pearce Bespoke franchisees have thirty (30) days after receiving a written Notice of Termination to remedy any default. If the franchisee does not correct the default within this period, the Franchise Agreement will terminate immediately without further notice.
However, there are exceptions where Pearce Bespoke may terminate the agreement immediately upon written notice without an opportunity to cure. These exceptions include repeatedly failing to comply with material requirements, breaches that are not curable, deceiving customers, or specific defaults listed in Section 15(A) of the agreement, such as abandoning the business, impairing goodwill, or failing to cooperate with audits.