What is the Bumper Man franchisee's obligation regarding electronic funds transfer systems?

According to Bumper Man's 2025 Franchise Disclosure Document, franchisees have specific obligations regarding electronic funds transfers. Upon signing the Franchise Agreement, and at any point thereafter if required by Bumper Man, a franchisee must sign an electronic transfer of funds authorization. This authorization, attached as Exhibit C to the agreement, allows Bumper Man to electronically disburse the remaining balance of invoiced amounts to the franchisee's designated bank account. This disbursement occurs after deducting the Continuing Service Fee, which is 25% of Gross Sales, and any other amounts owed to Bumper Man or its affiliates.

It is important to note that the Bumper Man franchisee is responsible for any service charges, penalties, fines, or other similar expenses associated with these electronic fund transfers. This means that franchisees need to factor in these potential costs when managing their finances and ensuring they have sufficient funds to cover any fees related to the electronic transfers.

This requirement ensures that Bumper Man can efficiently manage payments and collections from its franchisees. Franchisees should carefully review Exhibit C and understand all associated costs and procedures to avoid any unexpected charges or disruptions in their financial transactions with Bumper Man. Franchisees should also stay informed of any changes to Bumper Man's electronic funds transfer policies to remain compliant and avoid penalties.