New Disclosure Requirements – Manitoba

The Canadian province of Manitoba recently passed The Franchises Act, requiring certain disclosure documents from franchisors prior to granting franchises. At least 14 days before executing a franchise agreement, the franchisor must provide the prospective franchisee with risk warnings, information about the franchisor, earnings projections (where they are provided), and financial statements (for smaller franchisors). Manitoba’s new law goes into effect October 1, 2012, and joins the Canadian provinces of Ontario, Alberta, Prince Edward Island, and New Brunswick, which already require pre-franchise agreement disclosure. The full text of the bill can be found here.

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