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The Franchise Agreement governs the franchise relationship and therefore plays a fundamental part in franchising. It is a legally binding document that spells out the rights and obligations of the Franchisor and the Franchisee. It forms part of the Uniform Franchise Offering Circular (“UFOC”) which is issued to prospective franchisees. The Federal Trade Commission requires Franchisors in every state to provide a UFOC which conforms to its regulations. In addition, some states require that the offering must first be approved and registered by the state before it can be promoted to prospective franchise buyers. Find out more about UFOCs here.
Click here for UFOC information. |
