List franchise disclosure copies and receipts kept for three years
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- List each materially different version of the disclosure document and each signed receipt in the file, with the fiscal year the version was last used and the date of the completed sale. Do not treat a missing older file as a breach.
- What the lawyer must review
- 16 CFR 436.6(h) requires the franchisor to retain, and make available to the Commission on request, a sample copy of each materially different version of its disclosure documents for three years after the close of the fiscal year when it was last used. 16 CFR 436.6(i) requires, for each completed franchise sale, a copy of the signed receipt for at least three years. Item 23 requires two copies of the receipt as the last pages of the disclosure document. The lawyer checks what the file holds against those two duties. The opened rule does not require every disclosure file to be kept for six years. ABA Model Rules 1.1 and 5.3 and Formal Opinion 512 leave that check with the lawyer.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Consider narrowly defined preparation support after confirming the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.
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