What must a Card My Yard franchisee do if errors are discovered in statements or payments?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
- D. No Waiver. Our receipt or acceptance of any of the statements furnished or amounts paid to us (or the cashing of any check or processing of any electronic fund transfer) will not preclude us from questioning the correctness thereof at any time, and, in the event that any errors are discovered in such statements or payments, you must immediately correct the error and make the appropriate payment to us.
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, if any errors are discovered in statements or payments, a franchisee must immediately correct the error and make the appropriate payment to Card My Yard. This requirement ensures the accuracy of financial reporting and timely payments to the franchisor.
Card My Yard retains the right to question the correctness of any statements or amounts paid, even after accepting them. This means that the franchisor can audit the franchisee's records and demand corrections or additional payments if discrepancies are found. Franchisees should maintain meticulous records and reconcile them regularly to avoid potential issues.
This clause protects Card My Yard by ensuring they receive all payments owed. Franchisees should be diligent in their financial reporting and payment processes to avoid penalties or disputes. The immediate correction requirement underscores the importance of transparency and accuracy in the financial relationship between the franchisee and Card My Yard.