Julie Lusthaus recently had an article published in Practical Guidance about the franchise disclosure document receipt.
The Federal Trade Commission (FTC) Franchise Rule (“FTC Rule”) and state franchise sales laws require franchisors to provide prospective franchisees with a franchise disclosure document (“FDD”). 16 CFR 436 (2008). The FDD contains 23 items of information about the franchise, franchisor, and franchise investment. Item 23 of the FDD is the receipt for the FDD.