What laws must govern the designated bank account for my Beggars Pizza franchise?
Beggars_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee must maintain a designated bank account for the operation of the Beggars Restaurant.
Franchisee must deposit all revenues from the operation of the Beggars Restaurant in such bank account within two (2) days of receipt including, without limitation, cash, checks, credit card receipts, or the value of other forms of payment.
The designated bank account must be located within the United States and governed by its laws.
Source: Item 23 — RECEIPT (FDD pages 39–192)
What This Means (2025 FDD)
According to the 2025 Beggars Pizza Franchise Disclosure Document, the designated bank account that a franchisee is required to maintain for the operation of their Beggars Pizza restaurant must be located within the United States. Furthermore, this bank account must be governed by the laws of the United States.
This requirement ensures that the funds are subject to U.S. banking regulations and oversight. It also allows Beggars Pizza's supplier to have a clear legal framework for any financial transactions related to the franchise.
This stipulation is fairly standard in franchising, as it provides a level of security and legal recourse for both the franchisor and franchisee in financial matters. A prospective franchisee should ensure they understand all the requirements for this account, including any specific bank preferences or reporting obligations.