Ftc Franchise Disclosure Document
Posted On March 3, 2010
[mage lang=”en|sp|en” source=”flickr”]ftc franchise disclosure document[/mage]
The Federal Trade Commission to Receive Aafd Total Quality Franchising Chairmanâ??s Award
DATELINE: SAN DIEGO, CAâ¦
The American Association of Franchisee and Dealers (AAFD) announced today that the Federal Trade Commission (FTC) has been chosen to receive the AAFD Total Quality Franchising Chairmanâs Award for Distinguished Service and Achievement in the Franchising Community.
FTC is Recognized for Distinguished Service and Achievement in the Franchising Community
The Federal Trade Commission (FTC), has been named the recipient of the AAFDâs prestigious Distinguished Service and Achievement in the Franchising Community Award for the work the FTC did on the recent Franchise Rule Amendment, and especially for including a requirement for disclosure of independent franchisee associations in the franchisorâs Franchise Disclosure Document (FDD).
Steven Toporoff, an attorney with the FTC, was honored to accept the award on behalf of the Commission. âThe Federal Trade Commission is honored to be recognized by the AAFD, an organization that has repeatedly participated in the process while offering valuable input in regards to the FTC Franchise Rule.â Toporoff says. “I greatly appreciate the input of the AAFD during the rulemaking process and I believe that the amended Rule is a better product because of the AAFD involvement.”
The Federal Trade Commission (FTC) approved an amended Franchise Rule on January 22, 2007. The amendments change what franchisors are required to disclose in their Uniform Franchise Offering Circulars (UFOCs) which are now called Franchise Disclosure Documents (FDD).
The Amended Franchise Rule is mandatory as of July 1, 2008. One of the provisions of the Amended Franchise Rule is the requirement of the franchisor, if requested by a franchisee association, to disclose details of the independent franchisee association. This rule change now enhances the importance of the franchisee association because prospective franchisees will now be aware of their existence prior to purchasing a franchise.
AAFD Chairman Robert Purvin is proud to acknowledge the FTC, and happy that Steven Toporoff will accept on behalf of the FTC, âSteven, has worked for many years as the FTCâs Franchise Program Coordinator, and has always be willing to hear all sides of the issues, there isnât a more fitting person to accept the award on behalf of the FTC.â
The AAFD Total Quality Franchising Awards will be presented at the Associationâs annual TQF Awards Banquet on Monday, May 5, 2008, during AAFDâs 16th Annual Conference in Newport News, Virginia.
About the AAFD
The AAFD is a national non-profit trade association representing the rights and interests of franchisees and independent dealers throughout the United States. Formed in 1992, The AAFD is focused on market driven reform to achieve its mission to define and promote collaborative franchise cultures that the AAFD describes as Total Quality Franchising. Since its formation the AAFD has grown to represent more than 50,000 franchised businesses throughout the United States. The AAFD currently has members in all 50 states and represents more than 100 different franchise systems.
The AAFD’s Fair Franchising Standards, Fair Franchising Seal, Trademark Chapters, and emphasis on Marketplace Solutions led to the Association’s recognition as a growing force in franchising. The AAFDâs Branded Partner programs add a new dimension to the value of AAFD membership. The AAFD provides a broad range of member services designed to help franchisees build market power, create legislative support of interest to franchisees, provide legal and financial support, and provide a wide range of general member benefits.
For more information about the conference or the AAFD, please call toll free – 800-733-9858 or visit www.AAFD.org.
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