BRITISH COLUMBIA — New Franchise Act regulations came into force yesterday in B.C., promising greater protection for franchisees.
The Act, which reflects both the template franchise regulations developed by the Uniform Law Conference of Canada and the recommendations made by the British Columbia Law Institute, aims to help level the playing field for small business owners. The laws require franchisors to provide prospective franchisees in B.C. with a Franchise Disclosure Document (FDD), disclosing all material facts relating to the franchised business being offered so the prospective franchisee can make an informed decision about the investment.
British Columbia is the sixth Canadian province to have franchise specific legislation.
