Does Bumper Man require franchisees to sign an Electronic Funds Transfer Agreement?

According to Bumper Man's 2025 Franchise Disclosure Document, franchisees must sign an electronic transfer of funds authorization. Upon execution of the Franchise Agreement, and at any time thereafter as Bumper Man may require, the franchisee must sign the electronic transfer of funds authorization attached to the agreement as Exhibit C. Franchisees must also provide all other documents and instruments necessary to permit Bumper Man to disburse by electronic funds transfer to the franchisee's designated bank account. This disbursement would be for the remaining balance of invoiced amounts after deduction of the Continuing Service Fee and any other amounts owed to Bumper Man or its Affiliates.

Franchisees are responsible for any service charges, penalties, fines, or other similar expenses associated with the transfer of funds. This means that if the franchisee's bank charges a fee for receiving electronic transfers, the franchisee will bear that cost, not Bumper Man.

This requirement ensures that Bumper Man can efficiently manage payments to franchisees, but it also places the onus on the franchisee to ensure their bank account is properly set up to receive electronic transfers and to cover any associated costs. Prospective franchisees should factor these potential bank fees into their financial planning.