How must all payments be made by Beggars Pizza?
Beggars_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
f loss until the Products are delivered to Franchisee.
- (c) Supplier Invoice; Payment Timing. 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.
- (d) Bank Account. 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. Upon execution of the Agreement, Franchisee must execute Exhibit B attached hereto and furnish to Supplier the bank and account number, a voided check from such bank account, and written authorization for Supplier to withdraw funds from the bank account via EFT without further consent or authorization for all payments payable by Franchisee to Supplier hereunder.
Source: Item 23 — RECEIPT (FDD pages 39–192)
What This Means (2025 FDD)
According to the 2025 Beggars Pizza Franchise Disclosure Document, all payments for product sales must be made via direct deposit or electronic funds transfer (EFT). Franchisees are required to maintain a designated bank account for their Beggars Restaurant operations. All revenues, including cash, checks, and credit card receipts, must be deposited into this account within two days of receipt.
Upon signing the agreement, a Beggars Pizza franchisee must provide the supplier with their bank account information, including the bank name, account number, a voided check, and written authorization allowing the supplier to withdraw funds via EFT. This authorization permits the supplier to automatically deduct all payments due from the franchisee's account.
If a franchisee changes banks or accounts, they must provide the new account information and authorization for withdrawals before the change takes effect. Failure to provide the necessary bank account information or withdrawing consent for EFT withdrawals constitutes a breach of the agreement. The franchisee is responsible for covering all costs associated with these electronic transfers. If a franchisee fails to make payments when due, the supplier may suspend product shipments or require cash-on-delivery payments for future orders.