Where can I find more details about the electronic funds transfer process for payments to Aerus?
Aerus Franchise · 2025 FDDAnswer from 2025 FDD Document
ach continues.3 The parties agree that the foregoing amount is a reasonable estimation of the damages that would be incurred by Company for breach of the covenants provided for in this Section.
7. Fees, Payments and Deposits.
A. Franchisee shall pay to Company all fees, payments and deposits set forth in Schedule 3 attached hereto and required elsewhere in this Agreement (the remittance of each, a "Payment") in the amounts, at the time, and in the manner described in this Agreement or the Policies and Procedures or elsewhere in the Manuals. Each Payment to be made to Company must be made free and clear at the time, and in the manner, specified in this Agreement, without deduction or offset. TIME IS OF THE ESSENCE with respect to all Payments to be made. All unpaid obligations under this Agreement will bear interest from the date due until the date of receipt by Company, at one and one-half percent (1.5%) per month, or the maximum rate allowed by applicable law, whichever is less.
- B. At Company's option, Company may withdraw funds from Franchisee's designated bank account by electronic funds transfer or comparable method in the amount of any Payment or any other amounts due hereunder to Company and for all subsequent payments due to Company, as further described in the Manuals or otherwise in writing. Franchisee shall at all times maintain in its designated bank account a minimum balance in the amount specified in the Manuals.
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- Standard of Conduct. Franchisee shall use its best efforts to develop a sales organization to sell and increase sales of, and to legitimately and ethically advertise, market, promote, distribute and sell Products to Approved Customers within the Area of Responsibility by means of in-the-home and in-person demonstrations or otherwise in accordance with the Manuals. Such efforts shall always be conducted pursuant to the terms and conditions of this Agreement, shall comply with the Manuals, including the Policies and Procedures, and shall promote and
3 This liquidated damages clause does not apply to franchises in the State of Minnesota or the State of North Dakota.
demonstrate Company's standards of high quality and reputation. In connection with the foregoing, Franchisee shall be obligated, at a minimum, to:
- A.
Source: Item 23 — Receipts (FDD pages 74–305)
What This Means (2025 FDD)
According to Aerus's 2025 Franchise Disclosure Document, details about the electronic funds transfer (EFT) process for payments can be found in multiple locations. The franchisee is required to pay all fees, payments, and deposits as outlined in Schedule 3, the Franchise Agreement, the Policies and Procedures, or the Manuals. These payments must be made without any deductions or offsets.
Specifically, Aerus has the option to withdraw funds from the franchisee's designated bank account through electronic funds transfer or similar methods for any payments due. The franchisee must maintain a minimum balance in their designated bank account as specified in the Manuals.
Attachment B of Item 23 includes an Electronic Funds Transfer Authorization form. This form allows Aerus to debit the franchisee's account for payments. The franchisee must provide the banking institution, account number, and ABA number separately to Aerus. The authorization remains in effect until the Depository and Aerus receive a 30-day written termination notice from the franchisee. For a complete understanding of the electronic funds transfer process, prospective franchisees should review Schedule 3, the Franchise Agreement, the Policies and Procedures, the Manuals, and Attachment B, and consult with Aerus directly.