factual

Are copies of executed counterparts transmitted by electronic transmission service considered original executed counterparts for the Azal Coffee EFT Authorization?

Azal_Coffee Franchise · 2024 FDD

Answer from 2024 FDD Document

This EFT Authorization may be executed in any number of counterparts each of which when so executed shall be an original, but all of which together shall constitute one (1) and the same instrument. This EFT Authorization may be executed on signature pages exchanged by electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. Copies of executed counterparts transmitted by such electronic transmission service shall be considered original executed counterparts for purposes of this EFT Authorization.

Source: Item 22 — CONTRACTS (FDD page 51)

What This Means (2024 FDD)

According to Azal Coffee's 2024 Franchise Disclosure Document, copies of executed counterparts transmitted via electronic transmission service are considered original executed counterparts for the Electronic Funds Transfer (EFT) Authorization. This means that for the purposes of authorizing electronic fund transfers, a scanned or digitally transmitted copy of the signed authorization is legally equivalent to the original paper document. This applies to the EFT Authorization, which allows Azal Coffee to debit the franchisee's account for various fees.

This policy streamlines the authorization process, allowing franchisees to submit the necessary paperwork electronically rather than having to physically mail original documents. Azal Coffee also accepts signatures complying with the U.S. federal ESIGN Act of 2000, further facilitating the use of electronic signatures and transmission methods. This is a common practice in franchising, as it speeds up administrative processes and reduces paperwork.

It is important for prospective Azal Coffee franchisees to understand that by signing the EFT authorization, they are agreeing to electronic debits from their account for fees such as royalty fees, marketing fund contributions, and other charges. The authorization remains in effect until the bank receives written notification from both the franchisor and franchisee to terminate it, giving the bank a reasonable opportunity to act on the notification.

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.