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Buying a Franchise - When is a Franchise Disclosure Document ‘Current’?

Buying a Franchise - When is a Franchise Disclosure Document ‘Current’?

When deciding to purchase a Franchise the Franchisor is required to provide to the potential Franchisee a disclosure document, that among many other things details the current financial position of the franchisor. Under the Franchising Code of Conduct the franchisee is to be provided with a ‘current’ disclosure document, however the term ‘current’ is not defined in the Code. Generally a franchisor will update their Disclosure Document at the end of each financial year.