When must Beggars Pizza pay the total amount described in the Quote?
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 the 2025 Beggars Pizza Franchise Disclosure Document, the payment terms for products purchased from the designated supplier, BEGCOM, LLC, are structured around accounting periods. An accounting period is defined as every seven days, running from Monday to Sunday. At the start of each accounting period, the supplier will provide the Beggars Pizza franchisee with an invoice detailing the amounts due for all products purchased during the previous accounting period.
The Beggars Pizza franchisee is required to pay the supplier all amounts due for the previous Monday through Sunday period each Monday via electronic funds transfer (EFT). However, the supplier retains the right to modify the accounting period, potentially shortening it, as specified in the manual or in writing. The franchisee must pay for all product sales within seven days of receiving each invoice, but this timeframe can be reduced at the supplier's discretion with written notice.
If a Beggars Pizza franchisee fails to pay an invoice within the stipulated period, the supplier will issue a notice of failure, granting the franchisee a five-day cure period to rectify the payment. Failure to make the required payments within this cure period can result in the supplier immediately terminating the agreement. All payments must be made via direct deposit or EFT, and the franchisee is obligated to maintain a designated bank account for the Beggars Restaurant's operations, where all revenues must be deposited within two days of receipt.