Which exhibit contains the Authorization for Electronic Funds Transfer for Afuri Ramen Dumpling?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
Exhibit F to Afuri Franchise Disclosure Document
AUTHORIZATION FOR ELECTRONIC FUNDS TRANSFER
AFURI FRANCHISE INC.
923 SE 7th Ave. Portland, Oregon 97214 (971) 386-2945
I (we) hereby authorize AFURI FRANCHISE INC. (the "Company") to initiate Electronic Funds Transfer charges to my (our) bank account (indicated below) for payment of my (our) Royalty and Advertising fees owed by me (us) to the Company. This Authorization will remain in full force and effect until Company receives written confirmation of termination of this Authorization via certified letter.
Source: Item 22 — Contracts (FDD page 50)
What This Means (2024 FDD)
According to Afuri Ramen Dumpling's 2024 Franchise Disclosure Document, the Authorization for Electronic Funds Transfer is found in Exhibit F. This exhibit provides Afuri Franchise Inc. the authorization to initiate Electronic Funds Transfer charges to the franchisee's bank account for royalty and advertising fees. The authorization remains in effect until Afuri Franchise Inc. receives written confirmation of termination via certified letter.
This means that as an Afuri Ramen Dumpling franchisee, you will likely be required to authorize electronic funds transfers for the payment of royalties and advertising fees. This is a fairly standard practice in franchising, as it ensures timely and consistent payments to the franchisor.
The franchisee maintains the right to terminate this authorization, but must do so through a certified letter to ensure proof of delivery and receipt by Afuri Ramen Dumpling.