Under the Bumble Roofing Franchisee Authorization Agreement for Prearranged Payments, what is the process for the franchisee (Depositor) to authorize Bumble Roofing Franchisor, LLC to initiate debit entries to their account?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
The undersigned depositor ("Depositor") hereby authorizes BUMBLE ROOFING FRANCHISOR, LLC ("Company") to initiate debit entries and/or credit correction entries to the undersigned's checking and/or savings account(s) indicated below and the depository designated below ("Depository") to debit such account pursuant to Company's instructions.
Depositor's Business Name Bank Name Depositor's Business Address City, State, Zip Code Bank Transit/ABA Number Account Number state banking laws. This authority is to remain in full force and effect until Depository has received joint written notification from Company and Depositor of the Depositor's termination of such authority in such time and in such manner as to afford Depository a reasonable opportunity on which to act. If an erroneous debit entry is initiated to Depositor's account, Depositor shall have the right to have the amount of such entry credited to such account by Depository, if (a) within fifteen (15) calendar days following the date on which Depository sent to Depositor a statement of account or a written notice pertaining to such entry or (b) forty five (45) days after posting, whichever occurs first, Depositor shall have sent to Depository a written notice identifying such entry, stating that such entry was in error and requesting Depository to credit the amount thereof to such account. These rights are in addition to any rights Depositor may have under federal and
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, the Authorization Agreement for Prearranged Payments (Direct Debits) outlines the process for a franchisee (referred to as "Depositor") to authorize Bumble Roofing Franchisor, LLC (referred to as "Company") to initiate debit entries to their bank account. The franchisee authorizes Bumble Roofing to debit entries or credit correction entries to their checking or savings account. The franchisee must indicate their business name, business address, bank name, bank transit/ABA number, and account number on the authorization agreement.
This authorization remains in effect until the Depository (bank) receives written notification from both Bumble Roofing and the franchisee, indicating the franchisee's termination of the authorization. The notification must be provided in a manner that allows the Depository a reasonable opportunity to act on it.
If an erroneous debit entry occurs, the franchisee has the right to have the amount credited back to their account. To do so, the franchisee must send a written notice to the Depository identifying the erroneous entry, stating the error, and requesting a credit. This notice must be sent within fifteen calendar days of receiving a statement or written notice about the entry, or within forty-five days after the entry was posted, whichever comes first. These rights are in addition to any rights the franchisee may have under federal and state banking laws.