When must the designated bank account be established by All County franchisees?
All_County Franchise · 2025 FDDAnswer from 2025 FDD Document
- 2.5. Designated Bank Account. Prior to the opening of the Business, and as a condition thereof, you shall establish a designated bank account from which we shall be authorized to withdraw in any manner which we prescribe, which may include EFT or wire transfer, any amounts due to us or any affiliate(s) from you under this Agreement, including Royalty Fees due.
We have the right to review your sales numbers on a daily basis.
By the fifth (5th) day of the week following the end of each calendar month, we shall calculate the Royalty Fee due for the preceding month and may withdraw via EFT such amount and any other amounts due under this Agreement, including any advertising and marketing fees set forth under Article 17, directly from the designated account, unless we have agreed with you in writing to some other acceptable method of delivery of amounts due to us.
All costs and expenses of establishing and maintaining such designated account, including transaction fees and wire transfer fees, shall be paid by you.
You agree to maintain at all times sufficient funds in such designated bank accounts for such withdrawals.
Source: Item 23 — Receipts (FDD pages 43–157)
What This Means (2025 FDD)
According to All County's 2025 Franchise Disclosure Document, franchisees must establish a designated bank account before opening their business. This account is a condition of opening the business. All County is authorized to withdraw funds from this account, using methods they prescribe, such as EFT or wire transfer, to cover amounts due from the franchisee. These amounts include Royalty Fees or any payments to All County's affiliates.
All County retains the right to review a franchisee's sales numbers daily. By the fifth day of the week following each calendar month's end, All County will calculate the Royalty Fee due for the previous month. They may then withdraw this amount, along with any other due amounts, directly from the designated account via EFT. This includes advertising and marketing fees, unless an alternative payment method has been agreed upon in writing.
The franchisee is responsible for covering all costs associated with establishing and maintaining the designated bank account, including transaction and wire transfer fees. Franchisees must ensure that sufficient funds are available in the account to cover all withdrawals. This arrangement ensures that All County can efficiently collect royalties and other fees, while the franchisee bears the responsibility for the account's financial upkeep.