How must payments to Aerus be made?
Aerus Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
- A. 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.
Source: Item 23 — Receipts (FDD pages 74–305)
What This Means (2025 FDD)
According to Aerus's 2025 Franchise Disclosure Document, franchisees must make all required fees, payments, and deposits, referred to as "Payments," to Aerus as specified in the Franchise Agreement, Policies and Procedures, or Manuals. These payments must be made without any deductions or offsets. Time is of the essence for all payments. Any unpaid obligations will accrue interest from the due date until received by Aerus, at a rate of 1.5% per month, or the maximum rate allowed by law, whichever is less.
At Aerus's discretion, they may withdraw funds from the franchisee's designated bank account through electronic funds transfer or a comparable method for any Payment or other amounts owed. Franchisees must maintain a minimum balance in their designated bank account as specified in the Manuals.
Prospective franchisees should carefully review Schedule 3 of the Franchise Agreement and the relevant sections of the Policies and Procedures and Manuals to fully understand the amounts, timing, and specific methods for making payments to Aerus. Understanding these requirements is crucial for managing cash flow and avoiding late payment penalties.