What action must a 360 Painting franchisee take to authorize automated bank drafts?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
| I, transactions must comply with the provisioning of United States law. | , authorize 360 Painting, LLC to initiate an electronic debit against the bank account according to the terms outlined below. I acknowledge that the origination of the ACH |
|---|---|
| in which to act upon it. | Billing commences upon signature of this form and is subsequently debited monthly until I, , notify 360 Painting, LLC of its cancellation by sending written notice in such time and manner to allow both 360 Painting, LLC and receiving financial institution a reasonable opportunity |
| Business Checking ACH Information | |
| Legal Checking Account Name: | |
| DBA: | |
| Banking Institution: | |
| Bank ABA Routing Number: | |
| Bank Account Number: | |
| Business Contact Information | |
| Street Address: | |
| City, State: | |
| Zip Code: | |
| Phone Number: | |
| Customer Signature: | |
| Customer Printed Name: | |
| Date Signed: |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to the 2025 360 Painting Franchise Disclosure Document, to authorize automated bank drafts, a franchisee must complete and sign a form authorizing 360 Painting, LLC to initiate electronic debits against their bank account. This authorization complies with United States law regarding electronic transactions.
The form requires the franchisee to provide detailed business checking account information, including the legal checking account name, DBA (if applicable), banking institution name, bank ABA routing number, and bank account number. The franchisee must also provide business contact information, including the street address, city, state, zip code, and phone number.
Billing commences upon signing the authorization form and continues monthly until the franchisee cancels the authorization. To cancel, the franchisee must notify 360 Painting, LLC in writing, providing sufficient notice for both 360 Painting, LLC and the receiving financial institution to process the cancellation. This ensures that automated debits are properly stopped and avoids any potential issues with continued billing after cancellation.
Prospective franchisees should carefully review the terms outlined in the authorization form and understand the cancellation process to manage their payments effectively. It is also advisable to keep a copy of the signed form and the cancellation notice for their records.