What is the deadline for settling accounts each week between the distributor and Aunt Millies Bakeries?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
- §3.4 SETTLEMENT OF ACCOUNT: On or before Friday of each week, the parties agree to settle their accounts for all Products delivered to DISTRIBUTOR during the preceding week, acknowledging DISTRIBUTOR'S credit for any off code or damaged Products repurchased in accordance with §3.2 above, and receivables purchased pursuant to §3.5, below.
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
According to Aunt Millies Bakeries' 2025 Franchise Disclosure Document, distributors are required to settle their accounts with Aunt Millies Bakeries on or before Friday of each week. This settlement covers all products delivered to the distributor during the preceding week.
The settlement also acknowledges any credits the distributor may have for off-code or damaged products that Aunt Millies Bakeries repurchased, as detailed in Section 3.2 of the agreement. Additionally, it includes receivables purchased by Aunt Millies Bakeries, as outlined in Section 3.5.
This weekly settlement requirement ensures that financial transactions between Aunt Millies Bakeries and its distributors are handled promptly and efficiently. It allows for regular reconciliation of accounts, which can help prevent discrepancies and maintain a clear financial relationship. For a prospective franchisee, this means adhering to a strict weekly accounting schedule to remain in good standing with Aunt Millies Bakeries.