For Bevaris Alliance, what is the definition of 'Gross Sales Receipts'?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
- 4.16 Gross Sales Receipts. The Gross Sales Receipts shall be determined as follows:
- (a) on or before the Tuesday of the immediately following week, the Franchisee shall prepare, and deliver to the Franchisor, a statement of the Gross Sales Receipts for each week and tender the Royalty Fee accruing in said week to Franchisor;
- (b) within 3 days after the Franchisee has delivered the statement of Gross Sales Receipts, the Franchisor shall either confirm in writing that it agrees such statement or give notice that it does not;
- (c) if the Franchisor does not agree to such statement, the parties shall endeavor to resolve all matters in dispute as soon as practicable. If they fail to do so within 14 days of the notice, either party may refer the dispute for resolution to an Expert appointed under clause 24; and
- (d) any payment, additional payment or refund to be made as a result of any decision of the Expert shall be made within 14 days of receipt by the parties of the decision of the Expert.
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
According to Bevaris Alliance's 2024 Franchise Disclosure Document, the agreement outlines how Gross Sales Receipts are determined. The franchisee must prepare and deliver a statement of Gross Sales Receipts to Bevaris Alliance each week, specifically on or before the Tuesday of the immediately following week, along with the royalty fee for that week.
Within three days of receiving the statement, Bevaris Alliance will either confirm its agreement with the statement in writing or notify the franchisee if it disagrees. If Bevaris Alliance disagrees, both parties will attempt to resolve any disputes as quickly as possible.
Should they fail to reach an agreement within 14 days of the notice, either party has the option to refer the dispute to an expert appointed under clause 24 for resolution. Any payment, additional payment, or refund resulting from the expert's decision must be made within 14 days of both parties receiving the expert's decision.