How does Cordova collect the Technology fee?
Cordova Franchise · 2025 FDDAnswer from 2025 FDD Document
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| Type of Fee (Note 1) | Amount | Due Date | |
|---|---|---|---|
| Royalty (Notes 2 and 3) | 10% of Gross Sales | Monthly as designated by us | Will be debited automatically from your bank account by ACH or other means designated by us. |
Source: Item 6 — OTHER FEES (FDD pages 11–15)
What This Means (2025 FDD)
According to Cordova's 2025 Franchise Disclosure Document, the technology fee, currently $350 per month but potentially rising to $750, is collected monthly as designated by Cordova. Cordova will automatically debit the franchisee's bank account through ACH or other means they specify.
To facilitate this, franchisees must sign an ACH Authorization Form, allowing Cordova to electronically debit their designated business bank account for all fees. Franchisees are also required to deposit all gross sales into these designated accounts, which are subject to Cordova's ACH authorization.
Furthermore, franchisees must install and use the pre-authorized payment, point of sale, credit card processing, automatic payment, automated banking, electronic debit, or electronic funds transfer systems that Cordova designates. Franchisees are responsible for covering all service charges and fees imposed by their bank to ensure Cordova can successfully debit the account.