Transactional Work
Transactional work involves preparing a disclosure document, franchise agreement and other supporting documents when granting a franchise to an individual franchisee.
The Franchising Code of Conduct (Franchising Code) sets out a specific process that must be followed when entering into a franchise agreement.
At least 14 days before a franchisee enters into, renews or extends a franchise agreement or pays a non-refundable deposit in relation to a franchise agreement, a franchisor must give the franchisee:
- a Key Facts Sheet,
- a copy of the Franchising Code,
- a disclosure document in the form set out in the Franchising Code,
- a franchise agreement in the form in which it is to be executed.
What we do
We:
- forward an Information Statement as required by the Franchising Code to an incoming franchisee;
- conduct necessary searches (including ASIC searches if the franchisee is a company);
- prepare and forward a disclosure document package (including a franchise agreement in the form in which it is to be executed) for an individual franchisee;
- obtain from the franchisee the necessary statements required under the Franchising Code;
- advise on the consequences of any amendments to the franchise agreement requested by the franchisee;
- negotiate and draft any approved amendments to the franchise agreement (ensuring that your rights are protected);
- ensure that there is an audit trail for the purposes of establishing compliance with the Franchising Code;
- process the franchise agreement and ensure that all of the requirements under the Franchising Code have been met; and
- register any required business names.
In addition to the disclosure document package we will prepare any related documents required such as premises licences or step in deeds.
We have undertaken large volumes of transactional work for 35 years. We have streamlined processes in place to ensure that the work is completed efficiently, but more importantly we ensure that the documents are compliant, so that you have peace of mind.
