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Thank you for your request. I have sent a brief letter asking for a clean break, two weeks ago. In reply they are wanting the stock and the territory, however they are dishonest and are looking to profit from this. Instead of being supportive and acknowledging that, I have been misled and that the territory, bookings, monies and venues are still held by the former franchisee, who set up a competing business while advertising the business for sale.
The franchisors are also running a 'cowboy outfit'. There is no integrity there and the managing director behaves like a 'a boarding school mistress'.
The fees are unreasonable and they are aware of that. It's a case of them not wanting to take their responsibility and they are not supportive. I am unable to deal with the level of unprofessionalism, the constantly changing restrictions and demands.
A letter with no loopholes or comebacks is the only option. Offering the stock should more than financially cover any costs.
Thank you Elise
Yes another 3 and a half years with them.
Yes 'will from the agreed date cease to invoice for the fee and release the franchisee from their liabilities under the franchise agreement. A deed of termination to formally terminate the franchise agreement will be executed by the franchisor and the franchisee'
I have no equity, have lost that in the divorce, traded it for the children. We are renting.
How do we legally draft this letter, so that there are no loopholes and they do not try to take or invent any more costs and ensure that they acknowledge that the territory and stock, more than cover the monthly fee and any costs incurred if any, during this process.
Just checking in for a reply, I have to send this off by midnight tonight or call and ask for extension for reply, which I'm wary of doing. It's stressful and I'm trying to get it sorted today.
What is the difference between the deed to surrender and the termination deed
thank you Elise
What is the difference between the deed to terminate and the deed to surrender