When is the Insufficient Funds Fee payable to Benjamin Franklin Plumbing?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee (1) | Amount | Date Due | Remarks |
|---|---|---|---|
| Insufficient Funds Fee | $50 or the amount the bank charges us due to the insufficient funds, whichever is greater. | Upon demand | Payable if an electronic funds transfer payment request is returned due to insufficient funds. |
Source: Item 6 — OTHER FEES (FDD pages 18–27)
What This Means (2025 FDD)
According to Benjamin Franklin Plumbing's 2025 Franchise Disclosure Document, the Insufficient Funds Fee is payable upon demand. This fee is incurred if an electronic funds transfer payment request is returned due to insufficient funds.
The amount of the Insufficient Funds Fee is either $50 or the amount the bank charges Benjamin Franklin Plumbing due to the insufficient funds, whichever is greater. This means that if the bank's charge is higher than $50, the franchisee will be responsible for paying the higher amount.
For a prospective Benjamin Franklin Plumbing franchisee, this means ensuring sufficient funds are available when making electronic payments to avoid this fee. It is important to note that the fee is due immediately upon demand, so prompt payment will be necessary to avoid further complications or penalties.