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franchise down payment refund policy?

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1 franchise down payment refund policy? on Mon Mar 30, 2015 6:30 pm


Arresto Menor
I saw a promo last month feb 8 regarding a salon franchise. The promo package was 350k only. I availed and payed 100k downpayment because the promo wil only last until feb 12. They didnt give me any contract and just gave me a receiving copy Indicating they received my 100k as downpayment and with a remaining balance. After a month of waiting they still dont have a location for my salon and informed me that i have to pay the total price with renovation of 1.4m so i decided to pull out and refund my money. They deducted 30k and said that they will give me back the remaining 70k when they found a new franchisee. someone told me that the law stated that the deduction should only be 10%. So my deduction should be 10,000 only. Does anyone have any idea regarding franchising laws. Or even just downpayment laws. Thank u For the help.

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