You are granted a particular time frame in which to conduct business as a franchisee in your initial Franchise Agreement.Â The franchise agreement should also state the terms and conditions to renew that business relationship.Â Renewal is the resigning of a Franchise Agreement after the initial or subsequent terms of the franchise expires.
Found on http://www.franchise-uk.co.uk/franchise-glossary.htm
The process for extending an existing subscription order. First time renewals are often called â€œconversionsâ€? or â€œsensitive renewalsâ€?; second time renewals are often called â€œsemi-sensitive renewalsâ€?; and third and subsequent time renewals are often called â€œfirm renewalsâ€? or â€œpure renewalsâ€? (see ... Found on http://www.encyclo.co.uk/local/20553