Franchise Agreement Template Ontario

  • Posted by
  • on April 9, 2021
  • Filed in: Uncategorized

Sale or transfer of your franchise: How much control does the franchisor have over the sale or transfer of your individual franchise business? Does the franchisor have a right of approval or veto over potential buyers? What percentage of the sale is the franchisor entitled to and when should it be paid? Basically, this aspect of the contract determines how, when and under what conditions you can sell the business. It is always advisable to have a good exit plan before investing in anything, so you know what your rights and obligations are with regard to the sale of the franchise business. k) At least thirty (30) days before the transfer, the transferor pays the franchisor a sum of 25% (25%) Initial franchise fees in effect at the time to cover the franchisor`s administrative costs related to the proposed transfer; and the franchisor has grown and the franchisor will either make available online or will lend the franchisee, during the lifetime, an instruction notice for Proshred franchisees (the “Confidential Manual”) containing mandatory specifications, standards, procedures and rules for the provision of proshred services and the operation of the business and information on other franchisee obligations prescribed by the franchisor. The franchisee carries out the franchise activity strictly according to the confidential manual. The franchisor has the right to supplement and modify the confidential transaction manual from time to time to reflect changes in the standards of authorized services, proshred image (as defined below) or the business activity of the franchise business and to take into account regional differences; however, unless any such supplement or amendment alters the base status and rights of the franchisee under this agreement. The franchisee accepts, implements, implements and accepts all these changes at the franchisee`s expense. In the event that the franchisor lends the franchisee a printed copy of the confidential manual, the franchisee will maintain the confidential replacement and insertion page manual in accordance with Denseder.

Comments are closed.