Tooltips Archive - Page 30 of 32 - The Franchise Trainer

December 19, 2019

Area Development Franchise Agreement

Where a franchisee is committed to establish and operate fully owned multiple franchised units within a specific are/region/territory.

December 19, 2019

Area Development Fees

The initial franchise fees paid by the area developer to the franchisor for the rights to; use the intellectual property rights owned and protected by the franchisor, to use the expertise and know-how and to obtain the rights to sell the products and services and to establish the franchisor’s successful franchise business in the target […]

December 19, 2019

Area Developer

A franchisee that has the rights to expand in a franchise area/region/territory for establishing and operating fully owned multiple franchised units over an agreed period of time, usually the first term of the franchise agreement.

December 19, 2019

Arbitration

An alternative legal process for the resolution of disputes outside the courts, wherein the parties to a dispute refer it to one or more persons (the “arbitrators”), by whose decision they agree to be bound.

December 19, 2019

Approved Supplier or Vendor

A Supplier/Vendor of products and/or services that is approved by the franchisor to provide products or services to its franchisees.

December 19, 2019

Approved Products

The range of goods/products, which the franchisor authorizes the franchisee to prepare and sell at the franchised unit or store (as may be modified, replaced, improved, and/or added from time to time by the franchisor in its sole discretion

December 19, 2019

Approved Location

The physical location approved in writing by the franchisor for the franchisee to set up a franchised unit or store.

December 19, 2019

Anti-Waiver

An article in the franchise agreement which states that no failure or delay by the franchisor to exercise any right, power or privilege under the franchise agreement or acceptance of any breach, default in payment, lack of performance or fulfilment of an obligation by the franchisee, does not waive the right of the franchisor to […]

December 19, 2019

Antitrust Laws

A collection of laws that regulates the conduct business, generally to promote competition for the benefit of consumers and to outlaw or restrict business practices considered monopolistic or that restrain trade.

December 19, 2019