What is the purpose of the ACH Agreement, as it relates to a Best In Class Education Center franchise?
Best_In_Class_Education_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
"Account" means the checking account you designate from which we deduct fees and other amounts owed to us and our affiliates in accordance with §14.6.
"ACH Agreement" means the ACH Authorization Agreement attached hereto as ATTACHMENT "E", which authorizes us to electronically debit your Account for amounts owed to us and our affiliates.
Source: Item 23 — RECEIPT (FDD pages 47–204)
What This Means (2025 FDD)
According to the 2025 Best In Class Education Center Franchise Disclosure Document, the ACH Agreement authorizes BiC Franchise System Corporation to electronically debit a franchisee's designated checking account for fees and other amounts owed to them and their affiliates. This agreement, included as ATTACHMENT "E" to the franchise agreement, streamlines the payment process for franchisees.
By signing the ACH Agreement, a Best In Class Education Center franchisee gives the franchisor permission to automatically withdraw funds from their account. This ensures timely payments and reduces the administrative burden of manual payments.
This type of electronic funds transfer is a fairly standard practice in franchising, as it provides convenience and reliability for both the franchisor and franchisee. Franchisees should carefully review the terms of the ACH Agreement to understand the amounts that may be debited and the frequency of such debits.