Check that a renewal or extension has no cooling-off period
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Record whether the dealing is a renewal or an extension of an existing agreement, rather than a new grant or a transfer. Do not calculate a cooling-off end date for that renewal or extension.
- What the lawyer must review
- The lawyer confirms the dealing is a renewal or extension. Franchisees who are renewing or extending an existing franchise agreement do not have a cooling-off period if they change their mind. They should get legal, business or accounting advice before signing. This is the absence of cooling-off on a renewal or extension. It is not the end date of cooling-off on a transfer, and it is not an opt-out of a cooling-off right that otherwise exists.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | Record whether the dealing is a renewal or an extension of an existing agreement, rather than a new grant or a transfer. Do not calculate a cooling-off end date for that renewal or extension. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- The dealing is a renewal or an extension of an existing agreement.
- No cooling-off end date is calculated for it.
- A transfer, a new agreement, and a cooling-off opt-out stay on their own tasks.
Related tasks
Draft or review a franchise disclosure document against the prescribed headingsCheck the franchisor's disclosure and any registration the jurisdiction requiresDraft or review a franchise agreement from the disclosure and the term sheetBuild a franchisee due-diligence issues list from the disclosure pack