What is the deadline for recording customer payments in the Cool Binz software?

According to Cool Binz's 2025 Franchise Disclosure Document, all payments received for jobs must be recorded in the COOL BINZ Software, or other designated software, within 48 hours of being received. This requirement ensures that Cool Binz has access to accurate and up-to-date financial information for royalty calculations and business evaluations. Failing to comply with this requirement can lead to penalties and potential termination of the franchise agreement.

Specifically, if a Cool Binz franchisee fails to record customer payments within the stipulated 48-hour timeframe, it is considered a breach of the franchise agreement. This can trigger an inspection or audit by Cool Binz. If such an audit reveals a failure to record payments as required, the franchisee will be responsible for reimbursing Cool Binz for the costs associated with the inspection or audit. These costs may include attorney fees, accountant charges, travel expenses, and employee compensation.

Furthermore, the FDD states that consistently failing to record customer payments in a timely manner, or using the designated software for scheduling and invoicing, can result in Cool Binz terminating the franchise agreement if the issues are not resolved after receiving a default notice. This underscores the importance of adhering to the franchisor's software and reporting standards to maintain compliance and avoid potential penalties or termination.