Sample Deposit Agreement
EXHIBIT I FRANCHISE DEPOSIT ACKNOWLEDGEMENT
(Single Restaurant Applicant)
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FATBURGER NORTH AMERICA, INC. FRANCHISE DEPOSIT ACKNOWLEDGEMENT
(For Single Restaurant Applicants)
TO FATBURGER NORTH AMERICA, INC:
I understand that my application for the grant of a franchise to operate a Fatburger
Restaurant in the general area of_______________________________________________, which was
submitted on_____________, 20__, has been approved. To continue the process of obtaining a
license to operate a Fatburger Restaurant, I am submitting this Franchise Deposit Acknowledgement (this "Acknowledgement") and my deposit in the amount of SA50_000 to Fatburger North America, Inc. ("Fatburger").
In connection with my deposit, I understand and acknowledge the following:
My entire deposit of SA50.0U0 will be applied toward the initial franchise fee payable under Fatburger's Franchise Agreement.
Upon my submission of this Acknowledgement and my deposit to Fatburger, a portion of my deposit in the amount of $A25.000 will be immediately non-refundable. This amount will be deemed earned by Fatburger for processing of my Application and for services performed following approval of my Application.
If I decide not to obtain a license to operate a Fatburger Restaurant prior to signing a Franchise Agreement, I will so notify Fatburger and the refundable portion of my deposit in the amount of A25.000. less any fees or other expenses which I owe to Fatburger at the time of notice, will be returned to me.
If, following my signing of the Site Evaluation and Approval Agreement, Fatburger elects to terminate the Site Evaluation and Approval Agreement pursuant to the provisions thereof, the refundable portion of my deposit in the amount of SA25.000. less any fees or other expenses which I owe to Fatburger at the time of termination, will be returned to me.
The remaining refundable portion of my deposit in the amount of SA 25.000 will be deemed fully earned by Fatburger and non-refundable when I sign the Franchise Agreement.
Fatburger will have no obligation to return any portion of my deposit that is non-refundable, regardless of whether I or Fatburger performs any services or obligations following submission of my deposit.
Fatburger's obligations with respect to my deposit are those of a debtor and not a trustee and Fatburger may maintain my deposit separate and apart from Fatburger's general funds or may conimingle my deposit with its general funds. Fatburger shall not be required to pay me interest on my deposit.
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I have received your Franchise Offering Circular dated____________, 20__, and all Exhibits
attached thereto, including this Acknowledgement, more than ten (10) business days before the date of my execution hereof.
Executed at________________________, this_____day of_____________, 20__.
DEPOSIT RECEIVED SUBJECT TO ABOVE TERMS AND CONDITIONS:
FATBURGER NORTH AMERICA, INC, a Delaware corporation
Dated: __________________________________ By: ^___
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