For Bevaris Alliance, what is the timeframe considered when calculating '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 Gross Sales Receipts are calculated on a weekly basis. The franchisee is required to 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. This statement must also include the Royalty Fee that has accrued for that week.
Bevaris Alliance then has a period of 3 days to either confirm in writing that they agree with the franchisee's statement or to notify the franchisee that they do not agree. This process ensures that both parties are aligned on the reported sales figures and the corresponding royalty payments.
In case of a disagreement, both parties are expected to resolve the matter as quickly as possible. If they cannot reach an agreement within 14 days of the notice of disagreement, either party has the option to refer the dispute to an expert for resolution. Any payment, additional payment, or refund resulting from the expert's decision must be made within 14 days of the parties receiving the expert's decision.