BC’s Franchises Act will come into force on February 1, 2017, making BC the 6th jurisdiction in Canada to have franchise legislation. As previously reported, franchisors will be required to provide franchisees with a Franchise Disclosure Document (FDD) at least 14 days before a franchise agreement is signed. BC’s legislation appears to be more business-friendly than in some other provinces. For example, franchisors can require franchisees to sign confidentiality agreements and provide refundable deposits (of up to 20% of the initial franchise fee) when they receive the FDD. Franchisors who operate in any of the existing regulated provinces will find it easy to comply with the BC Act. BC franchisees will benefit from improved access to information and remedies.
https://beaconlaw.ca/wp-content/uploads/loogo.png 0 0 Del Elgersma https://beaconlaw.ca/wp-content/uploads/loogo.png Del Elgersma2016-11-04 11:29:542016-11-04 11:30:39Franchise Act Update