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Franchise Deposit Agreement

Franchise Deposit Agreement Template for Malaysia

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Key Requirements PROMPT example:

Franchise Deposit Agreement

"I need a Franchise Deposit Agreement for my Malaysian retail clothing business, with a 90-day refund period and specific conditions for forfeiture if the franchisee fails to complete due diligence by March 2025."

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Document background
The Franchise Deposit Agreement is a crucial preliminary document used in Malaysian franchise arrangements when a prospective franchisee expresses serious interest in acquiring a franchise. This document is typically executed before the main franchise agreement and serves to protect both parties' interests during the evaluation and negotiation phase. It complies with Malaysian franchise regulations, particularly the Franchise Act 1998, and outlines the conditions under which the deposit will be held, refunded, or forfeited. The agreement is essential for franchisors to secure commitment from serious prospective franchisees while providing franchisees with clear terms regarding their deposit protection. It typically includes details about the deposit amount, payment terms, conditions for refund, relationship to the main franchise agreement, and relevant timelines.
Suggested Sections

1. Parties: Identification of the franchisor and prospective franchisee, including full legal names, registration numbers, and registered addresses

2. Background: Context of the agreement, including the franchise business nature and purpose of the deposit

3. Definitions: Key terms used throughout the agreement, including 'Deposit', 'Franchise Agreement', 'Franchise System', etc.

4. Deposit Amount: Specification of the deposit amount, payment terms, and payment method

5. Purpose of Deposit: Clear statement of why the deposit is being collected and what it represents in relation to the franchise arrangement

6. Terms and Conditions: Conditions under which the deposit is held, including duration and any restrictions

7. Refund Conditions: Specific circumstances under which the deposit will be refunded to the prospective franchisee

8. Forfeiture Conditions: Circumstances under which the franchisor may forfeit the deposit

9. Relationship to Franchise Agreement: How this deposit agreement relates to the main franchise agreement

10. Governing Law: Specification that Malaysian law governs the agreement

11. Execution: Signature blocks and execution requirements for all parties

Optional Sections

1. Interest on Deposit: Terms regarding any interest earned on the deposit amount, if applicable

2. Dispute Resolution: Specific procedures for resolving disputes related to the deposit, including mediation or arbitration provisions

3. Assignment: Whether and how rights under the deposit agreement may be assigned

4. Force Majeure: Provisions for unforeseen circumstances that might affect the agreement

5. Confidentiality: Provisions regarding confidential information shared during the deposit period

6. Bank Account Details: Specific section for bank account information where deposit is held, if using an escrow arrangement

Suggested Schedules

1. Payment Details: Schedule detailing the payment information, bank account details, and payment timeline

2. Deposit Calculation: Breakdown of how the deposit amount was calculated, if composed of multiple elements

3. Required Documents: List of documents required from the prospective franchisee

4. Timeline: Schedule of key dates and deadlines related to the deposit and franchise application process

5. Form of Notice: Template for formal notices required under the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






















Clauses




















Relevant Industries

Food and Beverage

Retail

Education and Training

Healthcare Services

Automotive Services

Beauty and Wellness

Hospitality

Professional Services

Technology and Software

Real Estate

Relevant Teams

Legal

Finance

Business Development

Compliance

Operations

Executive Leadership

Franchise Development

Contract Administration

Relevant Roles

Franchise Development Manager

Legal Counsel

Business Development Director

Franchise Operations Manager

Chief Executive Officer

Chief Financial Officer

Compliance Officer

Contract Manager

Franchise Coordinator

Business Development Executive

Legal Manager

Finance Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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