If Budget requires payment by EFT, what is a Budget franchisee's obligation?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
Unless otherwise stated, all fees are non-refundable and are uniformly imposed and collected by, and payable to, Budget. Budget may require you to pay by electronic funds transfer ("EFT"), in which case you must sign and deliver the documents necessary for Budget to implement this system and make the required funds available for withdrawal on or before the designated due date.
Source: Item 6 — OTHER FEES(1) (FDD pages 17–29)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, if Budget requires a franchisee to pay by electronic funds transfer (EFT), the franchisee must comply with Budget's requirements to implement the system.
Specifically, the franchisee must sign and deliver all necessary documents to allow Budget to implement the EFT system.
Additionally, the franchisee must ensure that the required funds are available for withdrawal by Budget on or before the designated due date. This ensures that Budget can collect payments efficiently and on time, while the franchisee must maintain sufficient funds and adhere to the agreed-upon payment schedule to avoid any penalties or disruptions.