Illinois Administrative Code
Title 14 - COMMERCE
Part 200 - FRANCHISE DISCLOSURE ACT
Subpart A - DEFINITIONS
Section 200.114 - Negotiated Change
Universal Citation: 14 IL Admin Code ยง 200.114
Current through Register Vol. 48, No. 38, September 20, 2024
As stated in Section 11 of the Act, an amendment is not required when changes in the franchise agreement are made pursuant to negotiations between the franchisor and franchisee. However, if the same change is consistently made in additional consecutive franchise sales and it is a material change, it is considered to be a permanent change in the franchise agreement and an Amendment reflecting the change must be filed within the applicable time period.
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