How often must an Amerispec Inspection Services franchisee deposit revenues into the dedicated bank account?
Amerispec_Inspection_Services Franchise · 2025 FDDAnswer from 2025 FDD Document
s. The Franchisee shall utilize the system in a manner approved by the Company and pay for the purchase and installation of hardware and software, which may be necessary for use with such system.
- 12.2 Maintenance of Bank Account. The Franchisee shall maintain a separate bank account for the Franchised Business and shall deposit in that account all revenues received by the Franchised Business in a timely manner (not less than once each week). At all times, the Franchisee shall maintain a minimum balance of $500 in that account. The Franchisee shall notify the Company of the bank in which the account is maintained, as well as the
Source: Item 23 — Receipts (FDD pages 47–172)
What This Means (2025 FDD)
According to the 2025 Amerispec Inspection Services Franchise Disclosure Document, franchisees are required to deposit all revenues received by the franchised business into a separate bank account in a timely manner, specifically not less than once each week. This account must be exclusively for the franchised business.
In addition to the deposit frequency, Amerispec Inspection Services requires franchisees to maintain a minimum balance of $500 in this dedicated account at all times. Franchisees must also inform Amerispec Inspection Services of the bank's name, the account number, and provide at least 10 days' notice before making any significant changes to the account, such as altering signatories or the account's location.
These stipulations ensure that Amerispec Inspection Services franchisees maintain organized and transparent financial practices. By mandating weekly deposits and a minimum balance, Amerispec Inspection Services aims to safeguard funds and streamline financial oversight. The notification requirements for account changes further protect the financial integrity of both the franchisee and the franchisor.