Can Belocal designate another method of commission payment besides EFT?
Belocal Franchise · 2025 FDDAnswer from 2025 FDD Document
Upon written notice to Franchisee, Franchisor may designate another method of payment.
Source: Item 22 — CONTRACTS (FDD page 71)
What This Means (2025 FDD)
According to Belocal's 2025 Franchise Disclosure Document, Belocal may designate another method of payment besides Electronic Funds Transfer (EFT). The standard method for commission payments is through EFT, where Belocal credits or debits funds into the franchisee's designated bank account. This process requires the franchisee to complete the necessary documentation to authorize electronic fund transfers.
However, Belocal retains the right to change the payment method. The FDD states that Belocal can provide written notice to the franchisee to designate an alternative payment method.
For a prospective franchisee, this means that while EFT is the standard, Belocal has the flexibility to alter the payment method at its discretion, provided they give written notice. A potential franchisee should inquire about what other payment methods Belocal might use and under what circumstances they would deviate from EFT.