POOR CONTRACT FILE MANAGEMENT MAKES ENFORCEMENT DIFFICULT

Franchisors too often neglect the careful management of their franchise agreement files. Some never plan properly to capture and maintain all the documents and data that a complete contract file should include. Others know what they should have in the file but don’t exercise proper diligence. New franchisors are especially prone to making this mistake. Poor contract file management makes it difficult for you to enforce your agreement if it becomes necessary.

The Right Files Protect Your Rights
Franchise sales are comprehensively regulated by the federal and state government. Failure to provide the FDD at the right time or allowing the franchise agreement to be signed too early can give the franchisee strong defenses to the company’s attempts to enforce its rights. A missing signature on a franchise agreement or a guaranty can make enforcement impossible. Failure to capture the necessary information about a corporate franchisee and its owners can frustrate collection efforts in the future.

Turn Key Solutions
Large franchise companies have contract management departments employing attorneys and paralegals to manage these critical assets called franchise agreement files. If your company is not prepared to undertake this complex administrative function and all the training and oversight that it entails, then we at the Franchise Law Source can help.

We offer a turnkey solution to the problem of producing your FDD and seeing that it is properly employed.

We offer a turnkey solution for management of your contract files as well.

Let us reduce your overhead, reduce your training headaches and increase the accuracy of franchise sales documentation and franchise agreement files.

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