What is the 'Payment Day' for Big Blue Swim School Brand Fund contributions?
Big_Blue_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
You agree to authorize us to debit your business checking or other account automatically for the Royalty, Software License Fee, Brand Fund contribution, MSC Fee, and other amounts due under this Agreement and any related agreement between us (or our affiliates) and you. We will debit your account no later than the Payment Day for the Royalty, Software License Fee, Brand Fund contribution, MSC Fee, and other amounts due. Funds must be available in the account before the Payment Day for withdrawal by electronic transfer. We may require you to obtain, at your expense, overdraft protection for your bank account in an amount we specify. You must reimburse any "insufficient funds" charges and related expenses we incur due to your failure to maintain sufficient funds in your bank account. You may not close this account without first establishing, and notifying us of, a new account that we are authorized to debit as provided in this Section.
Source: Item 22 — CONTRACTS (FDD pages 75–76)
What This Means (2025 FDD)
According to the 2025 Big Blue Swim School Franchise Disclosure Document, franchisees are required to contribute to the Brand Fund. The exact 'Payment Day' for Brand Fund contributions, along with other fees such as Royalty, Software License Fee, and MSC Fee, is determined by Big Blue Swim School.
Big Blue Swim School will automatically debit the franchisee's business checking or other account for the Brand Fund contribution, among other fees. It is the franchisee's responsibility to ensure that sufficient funds are available in the account before the specified Payment Day to cover these deductions.
If a franchisee fails to maintain sufficient funds, they will be responsible for reimbursing any 'insufficient funds' charges and related expenses incurred by Big Blue Swim School. The franchisee cannot close the authorized account without first establishing a new account that Big Blue Swim School is authorized to debit.