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Get the free BSM Franchise Novation letter FINAL PRINT VERSION

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FRANCHISEE NAME ADDRESS LINE 1 ADDRESS LINE 2 POSTCODE St Patrick's House 17 Earth Road Cardiff CF10 5ZA DATE SAME DATE AS COMPLETION Dear FRANCHISEE NAME Following the recent announcement of acquisition
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How to fill out a BSM franchise novation letter:

01
Start by identifying the parties involved in the novation - the existing franchisor (BSM), the new franchisor, and the franchisee.
02
Clearly state the effective date of the novation, which signifies when the new franchisor will take over the obligations and responsibilities of the existing franchisor.
03
Provide a brief background or reason for the novation, such as a change in ownership or corporate restructuring.
04
Specify the terms and conditions of the novation, including any new obligations or changes to existing agreements.
05
Ensure that all parties involved in the novation sign the letter, indicating their agreement to the transferred rights and obligations.
06
Seek legal advice or consult the franchise agreement for any specific requirements or clauses that may need to be included in the novation letter.

Who needs a BSM franchise novation letter?

01
Franchisees who have signed a franchise agreement with BSM and are seeking to transfer their rights and obligations to a new franchisor.
02
Existing franchisors who are looking to transfer their franchising business to a new entity or owner.
03
New franchisors who are taking over an existing franchise system and need to formalize the transfer of rights and responsibilities.
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BSM franchise novation letter is a legal document that transfers the rights and obligations of a franchise agreement from one party to another.
The party who is taking over the franchise agreement is required to file the bsm franchise novation letter.
The bsm franchise novation letter must be filled out with all relevant details of the old and new parties involved in the franchise agreement transfer.
The purpose of the bsm franchise novation letter is to legally transfer the rights and obligations of a franchise agreement from one party to another.
The bsm franchise novation letter must include details of the old and new parties involved, as well as the effective date of the transfer.
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