We are passionate about delivering specialised services to the franchise industry.
the compliance loop for franchisors, franchisees, directors and financiers.
WHAT IS VETTING AND VERIFICATION?
The Australian Franchise Registry™ enables franchisors to have their franchise agreements and franchise disclosure documents vetted or verified against a published standard for compliance with the Franchising Code of Conduct.
There are two options:
- Vetting involves checking for compliance against a published compliance standard, and includes validation of key details in the disclosure document against searchable public records.
- Verification includes all vetting activities, but also requires franchisors to provide supporting evidence for additional key information. Verification programs will require direct supporting evidence, and statutory declarations from a franchisor as to the context of the disclosure document.
WHAT IS THE COST?
Document vetting is available for a fixed fee of $2,500 plus GST, or $1,500 plus GST if the document has been produced and is provided to the Franchise Registry by an Accredited Franchise Lawyer.
Document verification will range from $5,000 – $10,000 plus GST depending on the nature of the franchise system.
HOW IS THE VETTING OR VERIFICATION CONDUCTED?
Document vetting and verification will be conducted by Frandata Australia General Counsel Damira Banaszak. Franchisors that have their documentation vetted or verified for compliance will be entitled to use the vetting or validation insignia on their franchise documentation.
For more information, contact FRANdata on 02 8346 6093 or email: [email protected]