Solicitors in Essex & London
Franchise renewals are an important step in the continuing relationship between franchisees and their franchisor, and our expert franchise solicitors in Essex and London are able to offer advice on this matter.
Usually, a franchise agreement has an initial term which is capable of being renewed subject to the terms and conditions of the franchise agreement. It is important that both parties are not only aware of their right to be granted a new agreement but also that they are aware of the criteria that must be met in order for them to secure a renewal.
There are often terms in the franchise agreement setting out a limited window in which the franchisee must give notice to renew, performance criteria that must be met as a condition of renewal, details of the term of the new agreement, whether any fees will be paid on renewal and whether the renewal agreement will contain different terms to the current franchise agreement.
The renewal terms in a franchise agreement can affect both the franchisee’s right to be granted a new agreement and also the ultimate decision as to whether a franchisee wants to continue being franchisee.
Strict deadlines apply to franchise contracts, so if you are approaching renewal, contact one of our franchise law solicitors without delay. We offer consultations in any of our five offices across Essex and London, or, if more convenient, we are happy to meet you onsite at your own premises.