What is Attachment F related to in the Belocal franchise agreement?
Belocal Franchise · 2025 FDDAnswer from 2025 FDD Document
| 1. | GRANT | 2 |
|---|---|---|
| 2. | TERM AND RENEWAL | 3 |
| 3. | FEES | 3 |
| 4. | COMMISSIONS | 4 |
| 5. | FRANCHISEE'S OBLIGATIONS, REPRESENTATIONS, AND WARRANTIES | 7 |
| 6. | FRANCHISOR'S OBLIGATIONS | 20 |
| 7. | COVENANTS AGAINST UNFAIR COMPETITION | 20 |
| 8. | USE OF MARKS AND COPYRIGHTED MATERIALS | 24 |
| 9. | TRANSFER AND ASSIGNMENT | 26 |
| 10. | DEFAULT AND TERMINATION | 31 |
| 11. | OBLIGATIONS OF FRANCHISEE UPON TERMINATION | 36 |
| 12. | INSURANCE; INDEMNIFICATION; INDEPENDENT CONTRACTOR | 37 |
| 13. | NOTICES | 41 |
| 14. | APPLICABLE LAW; DISPUTE RESOLUTION | 41 |
| 15. | CONSTRUCTION OF AGREEMENT ATTACHMENTS Attachment A Definitions Attachment B Publication Description, Territory & Initial Franchise Fee Attachment C Principals' Undertaking Attachment D-1 Confidentiality Agreement and Ancillary Covenants Not to Compete Attachment D-2 Confidentiality Agreement and Ancillary Covenants Not to Solicit Attachment E Statement of Ownership Interests and Management Information Attachment F Electronic Funds Transfer Authorization Attachment G Listing Assignment Attachment H Test Publication Amendment | 44 |
Source: Item 22 — CONTRACTS (FDD page 71)
What This Means (2025 FDD)
According to Belocal's 2025 Franchise Disclosure Document, Attachment F to the franchise agreement concerns the Electronic Funds Transfer Authorization. This attachment likely outlines the terms and conditions under which Belocal is authorized to electronically debit funds from the franchisee's account for various fees and payments due under the franchise agreement.
For a prospective Belocal franchisee, this means they will need to agree to allow the company to directly withdraw funds from their bank account. This is a fairly standard practice in franchising, as it ensures timely payment of royalties, advertising fees, and other ongoing obligations.
Before signing the franchise agreement, a potential franchisee should carefully review Attachment F to understand the specific details of the electronic funds transfer process, including the frequency of withdrawals, the types of payments that will be debited, and the procedures for resolving any disputes related to these transactions. Understanding these details is crucial for managing cash flow and maintaining a good financial relationship with Belocal.