What is the name of the bank account from which Chicken Guy will transfer funds?
Chicken_Guy Franchise · 2025 FDDAnswer from 2025 FDD Document
On each Due Date, Chicken Guy will transfer from the Franchised Restaurant's commercial bank operating account ("Account") the amount reported to Chicken Guy in Franchisee's remittance report or determined by Chicken Guy based on the records contained in the cash registers/computer terminals of the Franchised Restaurant.
Source: Item 22 — CONTRACTS (FDD page 50)
What This Means (2025 FDD)
According to Chicken Guy's 2025 Franchise Disclosure Document, the funds will be transferred from the Franchised Restaurant's commercial bank operating account. This account is simply referred to as the "Account" in the document.
Chicken Guy requires franchisees to participate in an electronic funds transfer program, which allows Chicken Guy to debit royalty fees, advertising fees, interest charges, and other amounts owed from the franchisee's designated commercial bank operating account. This process ensures that Chicken Guy receives payments on time. Franchisees must authorize Chicken Guy to initiate debit entries and credit correction entries to this account for payments.
It is the franchisee's responsibility to ensure sufficient funds are available in the designated account for withdrawal by electronic funds transfer by the due date. Failure to maintain sufficient funds in the account constitutes a default of the Franchise Agreement. Chicken Guy also reserves the right to modify the payment method for royalty fees and other amounts owed with written notice.