When is the Nonsufficient Funds Fee for a Bevaris Alliance franchise due?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
- 4.12 Nonsufficient Funds Fee.
The Franchisee shall pay the Nonsufficient Funds Fee, when applicable.
- 4.13 Insurance Fee.
The Franchisee shall pay the Insurance Fee, when applicable.
- 4.14 Payment method. Unless the Franchisor otherwise notifies the Franchisee in writing, the Franchisee shall make all payments by electronic funds transfer to Franchisor's bank account which Franchisor will provide to Franchisee.
Franchisor may charge Franchisee for insufficient electronic funds transfers.
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
According to the 2024 Bevaris Alliance Franchise Disclosure Document, the Nonsufficient Funds Fee is due when applicable. This means a franchisee will be charged a fee if a payment to Bevaris Alliance is rejected due to insufficient funds in the franchisee's account.
This fee is in addition to other fees that a Bevaris Alliance franchisee may be required to pay, such as the Third-Party Quality Assurance Audit Fee, Additional Training Fees, Management Fee, and Renewal Fee. The Management Fee, if applicable, is due and payable on the Tuesday of each week. Unless otherwise notified in writing, all payments must be made via electronic funds transfer to Bevaris Alliance's bank account.
Bevaris Alliance may also charge franchisees for insufficient electronic funds transfers. It is important for prospective franchisees to understand all the fees associated with the franchise and to ensure they have sufficient funds available when making payments to avoid incurring this fee.