Does this section of the Aunt Millies Bakeries FDD specify the format of the Aunt Millies Bakeries FDD receipt?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
- §3.5 PURCHASE OF RECEIVABLES: AUNT MILLIE'S shall purchase from DISTRIBUTOR, and the DISTRIBUTOR HEREBY sells, assigns and transfers to AUNT MILLIE'S, all of DISTRIBUTOR'S right, title and interest in and to all of DISTRIBUTOR'S properly filled out and executed charge slips, all existing and future Accounts arising from the sale of Products to Chains or Outlets in the Sales Area and all proceeds thereof from the DISTRIBUTOR, at their face value, net of all discounts, free and clear of all liens, security agreements and encumbrances, other than in favor of, or permitted (in writing) by, AUNT MILLIE'S and its principal lender.
AUNT MILLIE'S shall credit DISTRIBUTOR'S account therefor.
DISTRIBUTOR shall promptly remit all such slips to AUNT MILLIE'S.
If any Chain elects to settle with DISTRIBUTOR on the basis of scan results, rather than charge slips, the credit to DISTRIBUTOR shall be adjusted for any difference between the charge slip and the actual sales reflected by the scan sale data.
The foregoing sale and purchase shall continue until termination of this Distribution Agreement, or until DISTRIBUTOR gives written notice of the termination of the foregoing sale to AUNT MILLIE'S, or, with respect to specific Accounts only, AUNT MILLIE'S gives notice that such Account's Chain's or Outlet's credit has not been approved by AUNT MILLIE'S.
For purposes of this Section 3.5, "Accounts" shall
mean accounts as defined in the Uniform Commercial Code as in effect in the state of organization of Distributor.
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
Based on the 2025 Aunt Millies Bakeries Franchise Disclosure Document excerpts provided, there is no specification regarding the format of any receipts. However, the document does discuss the purchase of receivables, where Aunt Millie's purchases the distributor's charge slips.
The FDD states that Aunt Millie's will purchase from the distributor all rights to properly filled out and executed charge slips, existing and future Accounts arising from the sale of Products to Chains or Outlets in the Sales Area, and all proceeds thereof. These purchases are made at face value, net of all discounts, free and clear of all liens, security agreements, and encumbrances, other than those in favor of Aunt Millie's. Aunt Millie's then credits the distributor's account accordingly, and the distributor is required to promptly remit all such slips to Aunt Millie's.
Furthermore, if a Chain chooses to settle with the distributor based on scan results instead of charge slips, the credit to the distributor will be adjusted to reflect any difference between the charge slip and the actual sales data from the scan. This process continues until the termination of the Distribution Agreement or if the distributor provides written notice to terminate the sale, or if Aunt Millie's notifies that a specific Account's Chain's or Outlet's credit has not been approved. The FDD defines "Accounts" according to the Uniform Commercial Code in effect in the distributor's state of organization.