What is the required method of payment for amounts owed to Best In Class Education Center?
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.
You must sign all other documents required by us or your bank to enable us to debit your Account for amounts owed.
You must deposit all revenues you generate into the Account and ensure sufficient funds are available for withdrawal before each payment due date.
If there are insufficient funds in your Account, any excess amounts you owe will be payable upon demand, together with any late charge imposed pursuant to §14.5.
We may also impose a $50 NSF fee for each instance where either: (a) there are insufficient funds in your Account to cover amounts owed when due; or (b) a check you issue to us is returned due to insufficient funds.
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, franchisees are required to authorize electronic debits from a designated checking account for fees and other amounts owed to Best In Class Education Center and its affiliates. This is facilitated through an ACH (Automated Clearing House) Authorization Agreement. Franchisees must also sign any other documents required by Best In Class Education Center or their bank to enable these debits.
Best In Class Education Center requires franchisees to deposit all revenues generated by the business into this designated account and ensure that sufficient funds are available for withdrawal on each payment due date. If there are insufficient funds in the account, any outstanding amounts become payable upon demand, and the franchisee will incur a late charge.
In addition to late charges, Best In Class Education Center may impose a $50 NSF (non-sufficient funds) fee for each instance where there are insufficient funds in the franchisee's account to cover the amounts owed when due, or if a check issued to Best In Class Education Center is returned due to insufficient funds. This policy ensures that Best In Class Education Center has a reliable method for collecting fees and that franchisees maintain financial discipline in managing their accounts.