For Atwell Suites franchisees, what are the requirements regarding entering into and complying with an Issuer Agreement for Conveyed Transactions?
Atwell_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
(j) each statement made on the Application or other information provided to us in support of the Agreement is true and correct;
(k) you are not doing business under a name or style not previously disclosed to us;
(l) you have not changed the nature of your business, Card acceptance practices, delivery methods, return policies, or types of products or services sold requiring a different MCC under Card Organization Rules, in a way not previously disclosed to us;
(m) you will use the Services only for your own proper business purposes and will not resell, directly or indirectly, any part of the Services to any Third Party (Note: Factoring is prohibited);
(n) you have not filed a bankruptcy petition not previously disclosed to us;
(o) you own and control the Settlement Account, and no third party security interest or lien of any type exists regarding the Settlement Account or any Card transaction;
(p) you will not at any time during the term of the Agreement, or until all amounts due under the Agreement have been paid in full, grant or pledge any security interest or lien in the Reserve Account, Settlement Account, or transaction proceeds to any Third Party without our consent; and
Source: Item 23 — Receipts (FDD pages 99–486)
What This Means (2025 FDD)
Based on the 2025 Atwell Suites Franchise Disclosure Document, specific requirements for entering into and complying with an Issuer Agreement for Conveyed Transactions are not detailed in the provided excerpts.
However, the FDD excerpts do contain information regarding the franchisee's obligations related to agreements. Specifically, the franchisee must ensure that all statements made on the application or other information provided are true and correct. They must also disclose any changes to their business, card acceptance practices, delivery methods, return policies, or the types of products or services sold. The franchisee is obligated to use the services only for their own business purposes and not resell any part of the services to any third party. Additionally, they must own and control the Settlement Account, ensuring no third-party security interest or lien exists regarding the Settlement Account or any Card transaction.
To fully understand the requirements for entering into and complying with an Issuer Agreement for Conveyed Transactions, prospective Atwell Suites franchisees should directly ask the franchisor for a comprehensive explanation. This inquiry should cover the specific terms of the Issuer Agreement, compliance procedures, and any associated fees or obligations.