What information are Atwell Suites franchisees obligated to provide to Servicers to facilitate compliance with Applicable Law?
Atwell_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
You further agree to cooperate and provide information requested by Servicers, as Servicers determine necessary, to facilitate Servicers' compliance with Applicable Law, including without limitation the rules and regulations promulgated by OFAC and the USA PATRIOT Act.
As part of your obligation to comply with Applicable Law, you agree not to use the Merchant Account and/or the Services for illegal transactions, for example, those prohibited by the Unlawful Internet Gambling Enforcement Act, 31 U.S.C.
Section 5361 et. seq., as may be amended from time to time or for processing and accepting transactions in certain jurisdictions pursuant to 31 CFR Part 500 et. seq. and other laws enforced by OFAC.
Source: Item 23 — Receipts (FDD pages 99–486)
What This Means (2025 FDD)
According to the 2025 Atwell Suites FDD, franchisees are required to cooperate and provide information requested by Servicers to help them comply with Applicable Law. This includes, but is not limited to, rules and regulations set forth by the Office of Foreign Assets Control (OFAC) and the USA PATRIOT Act.
This obligation ensures that Atwell Suites and its franchisees operate within legal and regulatory frameworks, particularly concerning financial transactions and security. By providing necessary information, franchisees assist Servicers in verifying the legitimacy of transactions and preventing illegal activities such as money laundering or funding of terrorism.
Failure to comply with these requests could result in legal repercussions for both the franchisee and Atwell Suites. It's a standard practice in franchising to ensure all parties adhere to legal requirements, protecting the brand and the individual businesses from potential legal issues. Franchisees should maintain accurate records and be prepared to promptly respond to information requests from Servicers to meet these compliance obligations.
Additionally, Atwell Suites franchisees must not use the Merchant Account or Services for illegal transactions, including those prohibited by the Unlawful Internet Gambling Enforcement Act or for processing transactions in restricted jurisdictions as defined by OFAC regulations. This reinforces the importance of understanding and adhering to all relevant laws to maintain the integrity of the Atwell Suites brand and avoid legal penalties.