This document may be used to register an offer and sale of franchises or to register a renewal statement or annual report. The document also contains a certification statement.
Hawaii Virginia Franchise Registration Application
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State:
Multi-State
Control #:
US-4-13-STP
Format:
Word;
Rich Text
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FAQ
Hawaii is a franchise registration state. Before you offer or sell a franchise in Hawaii you must register your Franchise Disclosure Document (FDD) with the Business Registration Division of the Hawaii State Dept. of Commerce and Consumer Affairs.
Mandatory 14-Day and 7-Day Cooling Off Periods The FDD must be delivered to a prospective franchisee at least 14 calendar days before the franchisee signs any binding agreement or pays any consideration for the franchise.
FTC 14-Day Rule: FTC regulations require that you distribute a complete Franchise Disclosure Document (FDD) with exhibits to all prospective franchisees on a date that is on a date that is not less than 14 days prior to the signing of any agreement or the acceptance of any money.
Each application for the registration or exemption of a franchise shall be accompanied by a fee of $500, payable to the Treasurer of Virginia.
The franchise disclosure document (FDD) disclosure and waiting period is 14 days from the date the the FDD is delivered to a prospective franchisee and the FDD receipt page is signed.
Under the federal franchise laws, at the national level, a franchisor's FDD will automatically expire and require renewal within 120 days of the franchisor's fiscal year end.
How do I Register My Franchise in Virginia? Uniform Franchise Registration Application. Franchisor's Costs and Source of Funds. Uniform Consent to Service of Process. Guarantee of Performance (if necessary) A copy of Auditor's Consent Letter. Corporate Acknowledgement (if applicable) A clean copy of your FDD.
Financial statements: A franchisor must provide three years of financial statements to the franchisee as part of the FDD. This includes balance sheets, statements of operations, owner's equity, and cash flows. Contracts: This is where the franchisor outlines the franchise agreement.