Uniform franchise Offering Circular (UFOC) is a regulatory document which describes the agreement terms of a franchise opportunity that prospective franchisees have to receive before any payments are made or signatures are put down.
If a party is interested in buying a franchise, the party will have to fill out a questionnaire given by the franchisor and only after that the party receives a UFOC which contains several items of information about the franchise.
The UFOC contains brief history of the franchise, details of the franchise fees and royalties, litigation, bankruptcy, trademarks, territory, list of outlets, franchisee obligations, business experience, renewal, termination, transfer and dispute resolution and other items.
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