What accounting and financial services does City Wide agree to provide to the franchisee?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
te | | | City | Wide franchise in the Designated Territory, as defined in the Franchise Agreement ("Franchised | | | Business"). | | | | B. | Franchisee desires to enlist the Services (defined below) of City Wide's Accounting | |
budgeting, among other services, for the benefit of Franchisee and the Franchised Business. C. City Wide desires to provide said Services to Franchisee and Franchisee wishes to engage City Wide to provide said Services, subject to the terms and conditions of this Agreement.
Services Department for the purpose of assisting in the financial reporting, bookkeeping, collecting, and
In consideration of the foregoing premises and the mutual covenants and agreements contained herein, the Parties hereby agree as follows:
AGREEMENT
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- Services. Subject to the terms of this Agreement and based on the information provided to City Wide by Franchisee, City Wide agrees to provide the accounting and financial services to Franchisee, pursuant to the selected accounting package and/or selected accounting services on the attached Accounting and Financial Services Packages ("Exhibit A") attached hereto and made a part hereof (collectively, "Services"). The provision of Services by City Wide will in no way imply or be interpretated that City Wide is in any way responsible for Franchisee's debts, obligations and other liabilities. It is understood by Franchisee that, in the event there is not sufficient cash flow to meet Franchisee's financial obligations, City Wide is in no way obligated to contribute funds to Franchisee's account nor pay Franchisee's financial obligations.
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- Initial Term. The Term of this Agreement shall be one of the following three options:
- a. New. Thirty (30) days prior to the Franchised Business opens for business to the general public;
- b. Existing. Thirty (30) days after receipt of three (3) complete billing cycles, if the Franchised Business is already open prior to the Effective Date; or
- c. Interim.
Source: Item 22 — CONTRACTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, City Wide agrees to provide accounting and financial services to franchisees based on selected accounting packages or services detailed in the attached Accounting and Financial Services Packages, also known as Exhibit A. These services are subject to the terms of the agreement and rely on the information provided by the franchisee. City Wide's services include assisting in financial reporting, bookkeeping, collecting, and budgeting. However, City Wide is not responsible for a franchisee's debts, obligations, or other liabilities, and is not obligated to contribute funds or pay financial obligations if the franchisee has insufficient cash flow.
City Wide also offers advice concerning operating problems, new techniques, and administrative, bookkeeping, accounting, and operating methods. This advice is disclosed through reports or inspections that City Wide deems appropriate. Additionally, City Wide will help with new and improved methods of operation or business procedures, use of the Operating Manual, management material, promotional material, advertising forms, software updates, and the Marks, as reasonably required and at City Wide's discretion.
It is important to note that City Wide disclaims all warranties, express or implied, regarding the provided services. The franchisee is responsible for providing all necessary documents, data, contracts, account information, and access required for City Wide to perform the services. City Wide is not liable for inaccurate information, records, or billings if the franchisee provides inaccurate data. Franchisees should carefully review Exhibit A to understand the specific accounting and financial services included in their selected package and the associated fees.