Under what conditions does Card My Yard account for a contract with a franchisee?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
C. Payment Processing. Unless we direct otherwise in writing, you must require all of your customers to pay for all services and products through our payment processing system accessible only on our Card My Yard website ("Payment Processing System"). We have established the Payment Processing System to help Card My Yard franchisees operate their businesses more efficiently by minimizing the bookkeeping and accounting burden, as well
as to simplify the overall administrative functions. Under the Payment Processing System, we are responsible for processing all payments received from your customers. You will direct each of your customers to pay us online through the Payment Processing System for all services and products you sell to them. We will process payments received from your customers, but, ultimately you are solely responsible for taking the steps necessary to ensure that your customers pay in full before you provide the applicable services or products to them. In the event that a customer fails to pay in full and in advance through the Payment Processing System, you shall not provide any services or products to such customer. For all payments owed to us, you are required to provide at the time of signing this Franchise Agreement and to maintain a current ACH payment authorization, in the form available from us or in the Operations Manual.
- D.
Payment of Net Proceeds to You.
Your Net Proceeds will be distributed to you on a weekly basis while this Agreement remains in effect, subject to delay for bank holidays.
Net Proceeds distributions will be made to you every Friday (subject to delay for bank holidays), provided that distribution date schedules may change from time to time, at our option, upon written notice to you.
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, Card My Yard uses a payment processing system accessible on their website to process payments from customers for services and products franchisees sell. Franchisees must require all customers to pay through this system, unless Card My Yard directs otherwise in writing.
Card My Yard processes the payments received from customers, but the franchisee is ultimately responsible for ensuring customers pay in full before services or products are provided. If a customer does not pay in full and in advance through the Payment Processing System, the franchisee must not provide any services or products to the customer.
To ensure payments are made, franchisees must provide and maintain a current ACH payment authorization at the time of signing the Franchise Agreement. Net proceeds from these payments will be distributed to the franchisee on a weekly basis while the agreement is in effect, typically every Friday, though this schedule may change with written notice. This system is designed to streamline bookkeeping and administrative functions for franchisees.