What is the Byrider procedure for applying an insurance check to a customer's account, as detailed in section 5.16?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
| Purpose | 5.1 |
|---|---|
| The Office Manager/Controller | 5.1 |
| CNAC organization | 5.1 |
| Contract administration | 5.2 |
| Maintain the deal jacket | 5.3 |
| BEST PRACTICE: Deal jackets | 5.3 |
| BEST PRACTICE: Banking forms | 5.3 |
| Track titles | 5.5 |
| PROCEDURE: Track title information | 5.6 |
| Tracking insurance | 5.9 |
| PROCEDURE: Track insurance information | 5.10 |
| PROCEDURE: When proof of insurance coverage is not received | 5.13 |
| PROCEDURE: When a Notice of Insurance Cancellation is received | 5.14 |
| BEST PRACTICE: Customer insurance | 5.14 |
| Other considerations associated with vehicle insurance | 5.15 |
| PROCEDURE: Applying an insurance check to a customer's account | 5.16 |
| Prepare Sales Tax forms | 5.17 |
| Cashiering and cash control | 5.17 |
| BEST PRACTICE: Co-mingled funds | 5.17 |
| Accept the down payment on a vehicle purchase | 5.18 |
| PROCEDURE: Accept the customer's down payment on a vehicle purchase | 5.18 |
| BEST PRACTICE: Control of cash down payments | 5.18 |
| The cashier greeting | 5.19 |
| STANDARD: Account Representative (Collector) payments | 5.19 |
| BEST PRACTICE: Cashier verification of customer information | 5.19 |
| Payment Acceptance screen and its informational features | 5.20 |
| PROCEDURE: Accessing the Payment Acceptance screen | 5.20 |
| The customer attempts to pay less than required | 5.29 |
| BEST PRACTICE: Cashier responsibilities | 5.29 |
| Accepting contractual payments | 5.30 |
| PROCEDURE: Accept a standard payment on a contract | 5.30 |
| PROCEDURE: Accepting an external payoff on account with an VSC | 5.41 |
| Accept non-standard contractual payments | 5.41 |
| PROCEDURE: Accepting a non-standard contractual payment | 5.41 |
| Down payments on a Service repair order | 5.43 |
| PROCEDURE: Accepting a customer's deposit on a repair order | 5.43 |
| PROCEDURE: Refunding a customer's deposit on a repair order | 5.46 |
| Accepting payment for a Service Department repair order | 5.47 |
| PROCEDURE: Accepting payment for a Service Department vehicle repair | 5.47 |
| Accept payment for a mechanical DIP (MDIP) | 5.50 |
| Handling drop box payments | 5.51 |
| BEST PRACTICE: Drop box security | 5.51 |
| BEST PRACTICE: Accounting for drop box payments | 5.53 |
| Reprinting a receipt for a contractual payment | 5.54 |
| PROCEDURE: Reprinting a receipt for a contractual payment | 5.54 |
| PROCEDURE: Printing a receipt for an automatic ACH payment | 5.56 |
| PROCEDURE: Printing a receipt for automatic credit card payments | 5.57 |
| Miscellaneous account correspondence | 5.58 |
| Post a payment adjustment | 5.59 |
| BEST PRACTICE: Internal control of payment adjustments | 5.59 |
| PROCEDURE: Post an adjustment to an account | 5.59 |
Source: Item 23 — Receipts (FDD pages 88–335)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, Item 23 provides a table of contents for the receipts section, which includes a reference to "PROCEDURE: Applying an insurance check to a customer's account" in section 5.16.
However, the provided excerpts do not include the actual content of section 5.16 detailing the specific steps involved in this procedure. The table of contents only indicates that such a procedure exists and where it can be found within the document.
Therefore, a prospective Byrider franchisee should review the full Item 23 in the FDD to understand the detailed steps for applying an insurance check to a customer's account. They should also ask Byrider for clarification on any aspects of the procedure that are unclear or require further explanation.