How are payments to Cicis typically made, unless otherwise notified?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
Unless we notify you otherwise from time to time, all payments due to us under this Agreement will be paid via electronic funds transfer ("EFT").
You agree to sign all documents necessary to permit us to withdraw funds from your designated bank account by EFT in the amounts due under this Agreement from time to time, at the time or times that such amounts become due and payable under the terms of this Agreement.
Source: Item 22 — CONTRACTS (FDD pages 64–65)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, payments due to Cicis are typically made via electronic funds transfer (EFT), unless Cicis notifies the franchisee otherwise. The franchisee is required to sign the necessary documents to allow Cicis to withdraw funds from the franchisee's designated bank account through EFT. This will occur in the amounts due and at the times specified in the agreement.
This means that as a Cicis franchisee, you will likely need to set up an EFT arrangement with Cicis to cover ongoing fees and other payments. This is a fairly standard practice in franchising, as it ensures timely and consistent payments to the franchisor. Franchisees should ensure they understand the payment schedule and have sufficient funds in their account to avoid any late payment penalties or disruptions.
It is important to note that Cicis retains the right to change the payment method, although they would need to notify the franchisee. Franchisees should pay close attention to any communications from Cicis regarding payment procedures to ensure compliance and avoid any potential issues.