What bank documents are required before opening a Cr3 American Exteriors franchise?
Cr3_American_Exteriors Franchise · 2025 FDDAnswer from 2025 FDD Document
Note 2: Before you may open for business, you must sign and deliver to us all bank documents needed to permit us to debit your bank account via ACH Electronic Transfer for all fees and payments due to us. If you change your bank account or transfer your account to a different bank, you must notify us within one day, and sign and deliver to us and the bank new documents to permit us to debit your bank account within three days. We require you to execute an Automatic Bank Draft Authorization and pay most fees to us via ACH electronic funds transfer. See Schedule 3 to the Franchise Agreement. All royalties on transactions will be paid at the time of deal closing through escrow attorney.
Source: Item 6 — OTHER FEES (FDD pages 18–20)
What This Means (2025 FDD)
According to Cr3 American Exteriors's 2025 Franchise Disclosure Document, before opening for business, franchisees must sign and deliver all necessary bank documents to allow Cr3 American Exteriors to debit the franchisee's bank account via ACH Electronic Transfer for all due fees and payments. This requirement ensures that Cr3 American Exteriors can automatically collect payments.
If a franchisee changes their bank account or transfers it to a different bank, they must notify Cr3 American Exteriors within one day. Additionally, the franchisee must sign and deliver new bank documents within three days to maintain the ACH debit authorization.
Cr3 American Exteriors requires franchisees to execute an Automatic Bank Draft Authorization, facilitating fee payments through ACH electronic funds transfer. Royalties on transactions are paid at the time of deal closing through an escrow attorney.