Document ID: chunk:federal_register_of_legislation:F2022C01111:clause:1_1:p1
Version: federal_register_of_legislation:F2022C01111
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 1/2)
Character Range: 130912–133717

1  First page
 1.1 On the first page:
 (a) in bold upper case:
  DISCLOSURE DOCUMENT FOR FRANCHISEE OR PROSPECTIVE FRANCHISEE; and
 (b) the franchisor's:
 (i) name; and
 (ii) business address and phone number; and
 (iii) ABN, ACN or ARBN (or foreign equivalent if the franchisor is a foreign franchisor); and
 (c) the signature of the franchisor, or of a director, officer or authorised agent of the franchisor; and
 (d) the preparation date of the disclosure document; and
 (e) the following statement:
  This disclosure document contains some of the information you need in order to make an informed decision about whether to enter into a franchise agreement. It should be read together with the key facts sheet and the information statement you have received.
  Entering into a franchise agreement is a serious undertaking. Franchising is a business and, like any business, the franchise (or franchisor) could fail during the franchise term. This could have consequences for the franchisee.
  A franchise agreement is legally binding on you if you sign it.
  You are entitled to a waiting period of 14 days (not 14 business days) before you enter into this agreement.
  If this is a new franchise agreement (not the renewal of a franchise agreement, nor the extension of the term or the scope of a franchise agreement), you will be entitled to a "cooling off" period of 14 days (not 14 business days) after signing the agreement, during which you may terminate the agreement. (In some circumstances a "cooling off" period may end later.)
  If you decide to terminate the agreement during the cooling off period, the franchisor must, within 14 days, return all payments (whether of money or of other valuable consideration) made by you to the franchisor under the agreement. However, the franchisor may deduct from this amount the franchisor's reasonable expenses, if the expenses or their method of calculation have been set out in the agreement.
  Take your time, read all the documents carefully, talk to other franchisees and assess your own financial resources and capabilities to deal with the requirements of the franchised business.
  You should make your own enquiries about the franchise and about the business of the franchise.
  You should get independent legal, accounting and business advice before signing the franchise agreement.
  It is often prudent to prepare a business plan and projections for profit and cash flow.
  You should also consider educational courses, particularly if you have not operated a business before.
  If you request the franchisor to give you this disclosure document, any attachments to it, the key facts sheet, the proposed franchise agreement and the Franchising Code of Conduct in printed form, electronic form or both, the franchisor must comply with your