For Big O Tires customer accounts, what is the expected payment frequency?
Big_O_Tires Franchise · 2025 FDDAnswer from 2025 FDD Document
ten notice will identify the payment entry, state that the payment entry was in error and request the Bank to add the amount of the payment entry to the account balance.
COMPANY INFORMATION
| Company Name: Big O Tires, LLC | Customer Account No. | |
|---|---|---|
| Payment Date: Payment Frequency: Payment Amount: | 1st Monthly | $ YOUR BANK ACCOUNT INFORMATION |
| Bank Name: | ||
| Bank Address: | ||
| Please Att |
Source: Item 23 — RECEIPTS (FDD pages 102–535)
What This Means (2025 FDD)
According to the 2025 Big O Tires Franchise Disclosure Document, customer accounts are expected to make payments on a monthly basis. Specifically, the document includes a sample authorization agreement for preauthorized payment service, indicating that customers authorize Big O Tires to obtain payment for amounts owed as they become due by initiating a payment entry to the customer's account. The payment date is listed as the 1st of each month.
This preauthorized payment service agreement allows Big O Tires to automatically deduct payments from a customer's bank account. The customer provides their bank name, address, transit routing number, and checking account number, along with a voided check to complete the information. This arrangement ensures timely and consistent payments for both the franchisee and Big O Tires.
The customer has the right to terminate the agreement at any time by providing written notification to either Big O Tires or their bank. The termination will be effective for payments issued or received after the notification has been received and acted upon. This provides customers with control over their payment method and allows them to discontinue the preauthorized payments if desired.