The UFOC/FDD contains 23 items of information that must be current as of the completion of the franchisor's most recent fiscal year. If there is a material change to the information in the document, the franchisor must make a revision (to be issued quarterly). The disclosure document must be given to a prospective franchisee at whichever occurs earlier: the first personal meeting of franchisor and prospective franchisee or ten working days prior to the execution of a contract or money payment to the franchisor. Standard UFOC/FDD Items: 1. The Franchisor, It’s Predecessors And Affiliates 2. Business Experience 3. Litigation 4. Bankruptcy 5. Initial Franchise Fee 6. Other Fees 7. Initial Investment 8. Restrictions On Sources Of Products And Services 9. Franchisee’s Obligations 10. Financing 11. Franchisor’s Obligations 12. Territory 13. Trademarks 14. Patents, Copyrights and Proprietary Information 15. Obligation To Participate In The Actual Operation Of The Franchise Business 16. Restrictions On What The Franchisee May Sell 17. Renewal, Termination, Transfer And Dispute Resolution 18. Public Figures 19. Earnings Claims 20. List Of Outlets 21. Financial Statements 22. Contracts 23. Receipt
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