What is the 'Invoice' referring to in the context of product purchases for a Beggars Pizza franchise?
Beggars_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
At the start of each Accounting Period (as defined below), Supplier will provide Franchisee with an invoice (the "Invoice") containing all current amounts due for all Products purchased during the prior Accounting Period. "Accounting Period" means every seven (7) days beginning on Monday and ending on Sunday.
Each Monday Franchisee must pay to Supplier all amounts due to Supplier for the previous Monday through Sunday (i.e., the previous Accounting Period) via electronic funds transfer ("EFT") as set forth in Section 3(d) below.
Supplier hereby expressly reserves the right to designate such other period (which may include a shorter period) as the Accounting Period that Supplier or Beggars may specify in the Manual or in writing from time to time.
Franchisee must pay for all Product sales within seven (7) days of receipt of each Invoice, which time period may be reduced in Supplier's sole discretion upon written notice to Franchisee.
All such payments must be made by direct deposit or EFT.
If Franchisee fails to pay any Invoice within such period, Supplier will provide Franchisee with notice of such failure and, upon receipt of such notice, Franchisee will have five (5) days to cure such failure.
If Franchisee fails to make all required payments within such five (5)-day cure period, Supplier will have the right to immediately terminate the Agreement.
Source: Item 23 — RECEIPT (FDD pages 39–192)
What This Means (2025 FDD)
According to Beggars Pizza's 2025 Franchise Disclosure Document, the 'Invoice' refers to a document provided by the Supplier to the Franchisee detailing the amounts due for products purchased. Specifically, at the start of each Accounting Period, which is defined as every seven days from Monday to Sunday, the Supplier will provide the Beggars Pizza franchisee with an invoice. This invoice will include all current amounts due for all products purchased during the prior Accounting Period.
Beggars Pizza franchisees are required to pay the Supplier all amounts due for the previous Monday through Sunday via electronic funds transfer (EFT) each Monday. However, the Supplier reserves the right to designate a different Accounting Period, potentially shorter, as specified in the Manual or in writing. Franchisees must pay for all product sales within seven days of receiving each Invoice, but this period may be reduced at the Supplier's discretion with written notice.
If a Beggars Pizza franchisee fails to pay any Invoice within the specified period, the Supplier will provide notice of the failure, granting the franchisee a five-day cure period. Failure to make all required payments within this cure period gives the Supplier the right to immediately terminate the agreement. All payments must be made by direct deposit or EFT, ensuring a clear and documented transaction process.