factual

Besides the requirements in this section, what other agreement outlines Aplus franchisees' obligation to maintain records?

Aplus Franchise · 2024 FDD

Answer from 2024 FDD Document

During the term of this Agreement, Franchisee shall maintain full, complete and accurate books, records and accounts in accordance with the standard accounting system prescribed by Franchisor in the Manual or otherwise in writing. Franchisee shall retain during the term of this Agreement, and for three years thereafter, all books and records related to the Franchised Business including, without limitation, purchase orders, invoices, payroll records, sales tax records, state and federal tax returns, bank statements, cancelled checks, deposit receipts, cash receipts and disbursement journals, general ledgers, and any other financial records designated by Franchisor or required by law.

Source: Item 23 — RECEIPT (FDD pages 68–302)

What This Means (2024 FDD)

According to Aplus's 2024 Franchise Disclosure Document, franchisees are obligated to maintain full, complete, and accurate books, records, and accounts in accordance with the standard accounting system prescribed by Aplus in the Manual or otherwise in writing.

Aplus franchisees must retain all books and records related to the Franchised Business for the duration of the agreement and for three years thereafter. These records include, but are not limited to, purchase orders, invoices, payroll records, sales tax records, state and federal tax returns, bank statements, cancelled checks, deposit receipts, cash receipts and disbursement journals, general ledgers, and any other financial records designated by Aplus or required by law.

In addition to the specific record-keeping requirements outlined in this section of the Franchise Agreement, Aplus franchisees must also adhere to all applicable federal, state, and local laws, rules, and regulations. This includes compliance with data security, protection, and privacy laws, such as the California Consumer Privacy Act (CCPA), if applicable. Franchisees are responsible for understanding and complying with these legal requirements, which may be amended or interpreted differently over time.

Aplus franchisees are also required to use and maintain a Computer System that complies with all applicable laws, regulations, and commonly accepted industry standards, including those related to privacy, data security, and the processing and protection of confidential personal information, such as the Payment Card Industry Data Security Standards. This includes responsibility for the acquisition, operation, maintenance, updates, and upgrading of the Computer System, as well as ensuring it interfaces properly with Aplus's computer system and those of third parties.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.