POOR CONTRACT FILE MANAGEMENT MAKES ENFORCEMENT DIFFICULT
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.
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.
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.
| Solutions for Existing
Franchisors| Solutions for
the New Franchisor | Contact
Solutions for the Prospective
Franchisee | About the Firm |
Resources | Attorney