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  • Add You - 10-Day Rule For Franchise Sales; Cooling Off Period

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    aw is that the UFOCs are generally about 200 pages long and that is a lot to read and the government regulators wish
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    In franchising law we have what we call a 10-day rule, which in laymen’s terms goes something like this; The prospective franchise buyer must receive the (UFOC) Uniform Franchise Offering Circular for ten business days before any monetary compensation is given to or collected by the Franchisor. Sounds like a good idea right? Well, it is very problematic for willing buyers and sellers to operate under such constraints of trade. One of the proponent reasons for this law is that the UFOCs are generally about 200 pages long and that is a lot to read and the government regulators wish t
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    ive franchise buyer must receive the (UFOC) Uniform Franchise Offering Circular for ten business days before any monetary compensation is given to or collected by the Franchisor. Sounds like a good idea right? Well, it is very problematic for willing buyers and sellers to operate under such constraints of trade. One of the proponent reasons for this law is that the UFOCs are generally about 200 pages long and that is a lot to read and the government regulators wish
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    ary compensation is given to or collected by the Franchisor. Sounds like a good idea right? Well, it is very problematic for willing buyers and sellers to operate under such constraints of trade. One of the proponent reasons for this law is that the UFOCs are generally about 200 pages long and that is a lot to read and the government regulators wish
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    tic for willing buyers and sellers to operate under such constraints of trade. One of the proponent reasons for this law is that the UFOCs are generally about 200 pages long and that is a lot to read and the government regulators wish
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    aw is that the UFOCs are generally about 200 pages long and that is a lot to read and the government regulators wish to make sure you take it to an attorney first. Currently the Federal Trade Commission is reviewing all the rules in franchising and determining whether we need more over disclosure and which kinds of stipulations to add to the franchise rule. Typical isn’t it adding minutia on top of already over loaded and cumbersome disclosure?

    I would like to comment first on the 10-day rule. I agree that if such a rule is to remain in play that it should be a number, which

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