What Are The Terms And Conditions Of Franchise Agreement

As the name suggests, franchisors will meet the franchisee`s specific quality control requirements. This is a strong and necessary franchise to ensure that goods and services throughout the system meet the minimum requirements of the franchisor. 19. Intellectual Property 19.1 The client recognizes and accepts that all campaigns, trademarks, service marks, slogans, works of art, written documents, drawings, photographs, documents, films, music, transcriptions or other documents subject to copyright, trademark, patent or similar protection are created by IFB as part of the service service delivery to the customer, in customer ownership through the customer. , unless otherwise stated, provided that: (a) services are accepted in writing by the client within twelve (12) months from the date of employment; and b) the customer paid IFB the full amount owed in terms of the price (and all costs associated with the creation and, if applicable, the production of such services). 19.2 Notwithstanding Clause 19.1, ifB may sometimes allow third-party equipment to enter the Services. In these circumstances, ownership of these licensed materials remains with the licensee at the end of the licence term. In such cases, the customer agrees to remain bound by the terms of these licenses. IFB will keep the customer informed of these restrictions. 19.3 The customer guarantees that all projects, specifications or instructions addressed to IFB will not have the effect of infringing patents, designs or trademarks registered during the execution of the customer`s order, and the customer agrees to exempt IFB from any action taken by a third party against IFB in respect of this violation. 19.4 The customer agrees to confirm the design or drawings of IFB if images of the ancillary objects are used by the customer in advertising or marketing materials. 19.5 The customer agrees that IFB (free of charge) may use all by-products that IFB has produced for the customer for marketing or competition purposes.

20. Delay and consequences of delay 20.1 Interest on outstanding invoices falls daily from the due date of payment to the payment date of two and a half per cent (2.5%) per calendar month (and at IFB`s sole discretion, these interest will be paid monthly at a similar rate) continue to be tried. 20.2 If the client owes money to IFB, the client frees IFB from all fees and withdrawals incurred by IFB when recovering the debt (including, but not just on internal administrative costs, legal fees on the basis of lawyers and own clients, the costs of the IFB collection agency and the costs for the bank`s non-compliance fees). 20.3 As a result of all other rights or remedies that IFB may have under this contract, if a customer has payments to IFB and the transaction is subsequently cancelled, the customer is responsible for the amount of the cancelled transaction, in addition to any other costs incurred by IFB under this clause 20 , provided it can be proven that such a cancellation is illegal. , fraudulently or violate the client`s obligations under this contract. 20.4 Without prejudice to IFB`s other remedies, IFB is entitled to cancel all or part of all of the customer`s order in accordance with the order and all amounts owed to IFB, whether due to payment, are immediately due when: (a) the funds to be paid to IFB are in arregitance or, in the opinion of IFB, the customer is unable to pay the payment. , when due; (b) the customer exceeded the credit limit set by IFB; (c) the client becomes insolvent, convenes a meeting with its creditors, proposes or enters into an agreement with creditors or concludes an assignment for the benefit of its creditors; or (d) a recipient, administrator, liquidator (temporary or otherwise) or a similar person is designated in relation to the client or an asset of the client.


Comments are closed.

Teisha Rowland, PhD, is the author of this blog.


  • No categories