There are two parties in the agreement, franchisor and the Franchisee and the agreement is a legally binding agreement between the parties granting the franchisee rights to use the systems of the Franchisor. It is an agreement where the franchisor lends the business entity to some other person by defining various rights and obligations of the Franchisee in the agreement. There are certain important clauses in the agreement such as obligations of the parties, governing laws in the agreement, penal clauses and cancellation terms and the mode of termination as well as fine and compensation clauses.
THE ADVANTAGES OF FRANCHISEE AGREEMENT:
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