How does one terminate the Electronic Funds Transfer authorization with Afuri Ramen Dumpling?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
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 23 — Receipts (FDD pages 50–189)
What This Means (2024 FDD)
According to Afuri Ramen Dumpling's 2024 Franchise Disclosure Document, to terminate the Electronic Funds Transfer (EFT) authorization, the franchisee must provide written confirmation of termination to Afuri Franchise Inc. via certified letter. This authorization, which allows Afuri Ramen Dumpling to electronically charge the franchisee's bank account for royalty and advertising fees, remains in effect until the franchisor receives this written termination notice.
This requirement ensures a formal and documented process for ending the EFT agreement, protecting both the franchisee and Afuri Ramen Dumpling. The use of certified mail provides proof of delivery, which can be important in resolving any potential disputes regarding the termination of the authorization.
Franchisees should keep a copy of the certified letter and the return receipt as evidence of their compliance with the termination procedure. It is also advisable to confirm receipt of the termination notice with Afuri Ramen Dumpling to ensure the EFT is properly discontinued and to avoid any unintended charges.