What is the due date for monthly payments to Amerispec Inspection Services?
Amerispec_Inspection_Services Franchise · 2025 FDDAnswer from 2025 FDD Document
nthly Royalties as well as National Advertising Fund Contributions due via online reporting by the dates specified by the Company from time to time in the manuals or otherwise in writing. All monthly Royalties and National Advertising Fund Contributions (the "Monthly Fees") owed and any other amounts designated by Company must be received or credited to Company's account by pre-authorized bank debit (or in any other manner as designated by the Company) by end of business on the Due Date set forth in Paragraph 5.2 above. If Franchisee fails to have sufficient funds available to pay any Monthly Fees, interest and delinquency fees will be applied to Franchisee's account as set forth in Paragraph 5.2. If Franchisee has not reported Gross Receipts for any reporting period, the Company will be authorized to debit Franchisee's
bank account (the "Account") in an amount equal to the greater of the non-reported payment (if the Company can reasonably estimate or determine the owed amount) or one hundred twenty percent (120%) of the Monthly Fees transferred from such Account for the last reporting period for which a report of Gross Receipts was provided to the Company.
Source: Item 23 — Receipts (FDD pages 47–172)
What This Means (2025 FDD)
According to Amerispec Inspection Services's 2025 Franchise Disclosure Document, monthly payments for royalties and national advertising fund contributions are due by the date specified by Amerispec Inspection Services in the manuals or in writing. These payments, along with any other amounts designated by the company, must be received or credited to Amerispec Inspection Services's account by pre-authorized bank debit or any other manner designated by the company by the end of business on the specified due date.
If a franchisee fails to have sufficient funds available for these monthly fees, interest and delinquency fees will be applied to the franchisee's account. If the franchisee does not report gross receipts for any reporting period, Amerispec Inspection Services is authorized to debit the franchisee's account.
Any payment or report not received by Amerispec Inspection Services by the due date is considered overdue. Overdue payments incur interest at a rate of 1.5% per month, or the maximum rate permitted by law, whichever is less. Additionally, overdue reports are subject to a delinquency fee of $50.00 per report. Amerispec Inspection Services may also assign the payment of fees and submission of monthly reports to a third party.