Late last week, I received an email from the Securities Division of the Washington State Department of Financial Institutions announcing the launch of its new on-line electronic franchise filing system. The Division is strongly encouraging that all franchises use the "E-File System" for new franchise applications, franchise renewals and amendment filings.
According to the Division, franchises utilizing the E-File System may discontinue the filing of physical applications. As far as we are aware, Washington is the first state to utilize an on-line filing system although Rhode Island eliminated the filing of paper documents and moved entirely to CD-ROM filings a number of years ago.
The Division hopes to conserve its resources, reduce the time needed to process an application and provide faster response times which benefits franchisors. This is great news for franchises registered or hoping to get registered in Washington as it should help simplify an applicant’s process and shorten the time to receive a notice of effectiveness.
The Division is also providing a how-to guide on getting started and some Frequently Asked Questions. Applicants with additional questions are encouraged to call Cheryl Pearson at (360)-902-8762.