contact@watkinslawfirm.com |  
(205) 701-5536
English

Our Blog

Did You Know? NASAA Releases New FDD Instructions for 2020 Photo by Erol Ahmed on Unsplash

Did You Know? NASAA Releases New FDD Instructions for 2020

Jan 01 2020

Did you know that last May (2019) that NASAA adopted new state cover sheets and state effective dates page for franchise disclosure documents. Beginning January 1, 2020, any FDD must now include three new cover sheets following the guidelines provided by NASAA.

All of these new pages are standardized and should appear behind the cover page of the FDD, before the main body of the FDD (Items 1-22).
  • “How to Use This Franchise Disclosure Document” is a table that includes general questions a franchisee may have and the table indicates where in the FDD that the information can be found. 
  • “What You Need to Know About Franchising Generally” has a list of certain common franchise terms and questions. 
  • “Special Risks to Consider About This Franchise" is similar to the previous state-specific disclosure page and franchisors must still include a page listing the effective dates of the states in which they operate.

Although relatively easy to add these compliance changes, it is a trap for the unwary and franchisors will need to make sure they are added to have a compliant FDD.

*https://www.nasaa.org/wp-content/uploads/2019/06/New-Frachise-State-Cover-Sheets-Instructions.pdf

Rate this item
(1 Vote)
Super User

Super User

Blog Use: Disclaimer

**This blog site is published on behalf of and reflects the personal views of the article authors, in their individual capacity. It does not necessarily represent the views of the law firm or any clients, and is not sponsored or endorsed by them. The purpose of this blog site is to assist in dissemination of information about general business and interesting legal topics, but no representation is made about the accuracy of the information. The information contained in this blog site is provided only as general information for education purposes, and blog topics may or may not be updated subsequent to their initial posting.

**By using this blog site you understand that this information is not provided in the course of an attorney-client relationship and is not intended to constitute legal advice. This blog site should not be used as a substitute for competent legal advice from a licensed attorney in your state. This blog site is not intended to be advertising and Joshua M. Watkins does not wish to represent anyone desiring representation based upon viewing this blog site in a state where this blog site fails to comply with all laws and ethical rules of that state.

**No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers.

 

In a world that has become increasingly complicated and uncertain, you deserve an attorney who is result-oriented, responsive and respected. 

 

 

Contact Info

4000 Eagle Point Corporate Dr. 
Birmingham, AL 35242

(205) 701-5536

 This email address is being protected from spambots. You need JavaScript enabled to view it.

Office Hours 9.00 am to 5.00 pm
By Appointment Only

Twitter Feed

2019 Alabama Captive Insurance Conference dates announced - September 25-27 at Perdido Beach Resort https://t.co/VbcFVfAIJY
Good reminder to check your policies and procedures for online reviews. https://t.co/l3YgMOkNSU
Follow Joshua Watkins on Twitter