What is the administrative fee for a refused transfer from a Burneys Sweets More franchisee's account?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
"). If a transfer from Franchisee's Account is refused, an administrative fee of Twenty-Five Dollars ($25) may be assessed, as well as reimbursement to Franchisor of any fee its bank charges for uncollected deposit fu
Source: Item 22 — CONTRACTS (FDD page 50)
What This Means (2025 FDD)
According to the 2025 Burneys Sweets More FDD, if a transfer from a franchisee's bank operating account is refused, Burneys Sweets More may assess an administrative fee of $25. In addition to this fee, the franchisee is also responsible for reimbursing Burneys Sweets More for any fees its bank charges for uncollected deposit funds.
This means that if a franchisee's payment to Burneys Sweets More is rejected by the bank due to insufficient funds or any other reason, the franchisee will incur not only the $25 administrative fee from Burneys Sweets More but also any additional fees charged by Burneys Sweets More's bank. This could potentially increase the cost of a rejected payment significantly.
It is important for prospective Burneys Sweets More franchisees to maintain sufficient funds in their operating accounts to cover all payments due to Burneys Sweets More to avoid these administrative and bank fees. Franchisees should also be aware of the potential for these fees and factor them into their financial planning.