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A franchise disclosure document (FDD) is a legal document which is presented to prospective buyers of franchises in the pre-sale disclosure process in the United States.It was originally known as the Uniform Franchise Offering Circular (UFOC) (or uniform franchise disclosure document), prior to revisions made by the Federal Trade Commission in July 2007.
In addition to the FTC, fifteen states require pre-sale disclosure in franchise sales. Prior to the adoption of the amended rule, disclosure was required in the form of a uniform franchise offering circular, which was renamed to a franchise disclosure document (FDD) when the amended rule was adopted. The FDD format is generally accepted by ...
The U.S. Franchise Disclosure Document (FDD) is lengthy (300–700 pp +) and detailed (see Franchise Disclosure Document, above), and generally requires audited financial statements from the franchisor in a particular format, except in some circumstances, such as where a franchisor is new.
A franchise agreement is a legal, binding contract between a franchisor and franchisee. In the United States franchise agreements are enforced at the State level. Prior to a franchisee signing a contract, the US Federal Trade Commission regulates information disclosures under the authority of The Franchise Rule . [ 1 ]
In the United States, a seller disclosure statement is a form disclosing the seller's knowledge of the condition of the property. The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1]
A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region. [2]
Nearly two years ago, NFL fans watched in horror as Buffalo Bills safety Damar Hamlin collapsed on the field after experiencing a sudden cardiac arrest (SCA) midgame. But the now-26-year-old ...
The most recent version of the FTC Franchise Rule was in 2007, is printed in FR 2007a, pp. 15544–15575. The FTC franchise rule specifies what information a franchisor must disclose to a prospective franchise business as a franchise opportunity in a document named the Franchise Disclosure Document (FDD). [3] [4]