Does Cream require franchisees to accept specific credit and debit cards or other payment systems?
Cream Franchise · 2025 FDDAnswer from 2025 FDD Document
apply any of your payments to any of your pastdue indebtedness to us. We and our affiliates may set off any amounts you or your owners owe us or our affiliates against any amounts we or our affiliates owe you or your owners.
G. METHOD OF PAYMENT.
You must make all payments due under this Agreement in the manner we designate from time to time. We may also direct you to make some or all of the payments under this Agreement to our designee or affiliate. You authorize us to debit your checking, savings, or other account automatically for all amounts due to us or our affiliates (the "EFT Authorization"). You agree to sign and deliver to us any documents we require for such EFT Authorization. Such EFT Authorization shall remain in full force and effect during the Term. We will debit the account you designate for these amounts on their due dates (or the subsequent business day if the due date is a national holiday or a weekend day). You agree to ensure that funds are available in your designated account to cover our withdrawals. If the amounts that we debit from your account are greater than the amounts you actually owe us, we will credit the excess against the amounts we otherwise would debit from your business account on the next payment due date. We may change the timing, frequency, and intervals of any payments from time to time, but with no less than 30 days' prior written notice to you. All amounts payable by you or your owners to us or our affiliates must be in United States Dollars ($USD).
If you fail to report Net Sales, we cease to have access to your Computer System, or your Shop is closed without our authorization for any period of time, then for any fees under this Agreement which are calculated based on Net Sales, we may debit your account for 110% of the average Net Sales for the last three months of operations of your Shop. If the amounts that we debit from your account on the basis of any understatement are less than the amounts you actually owe us once we have determined the true and correct Net Sales, we will debit your account for the balance on the day we specify. If the amounts that w
Source: Item 23 — RECEIPTS (FDD pages 61–192)
What This Means (2025 FDD)
The 2025 FDD for Cream specifies that franchisees must make all payments due under the Franchise Agreement in the manner that Cream designates from time to time. Cream can also direct franchisees to make payments to their designee or affiliate.
Cream is authorized to debit a franchisee's checking, savings, or other account automatically for all amounts due to Cream or its affiliates through an EFT Authorization. This EFT Authorization remains in effect during the term of the agreement. Cream will debit the designated account on the due dates, or the subsequent business day if the due date falls on a national holiday or weekend. Franchisees must ensure that sufficient funds are available in their account to cover these withdrawals. Cream may change the timing, frequency, and intervals of payments with at least 30 days' prior written notice.
If a Cream franchisee fails to report Net Sales, access to their computer system is ceased, or their shop is closed without authorization, Cream may debit the franchisee's account for 110% of the average Net Sales for the last three months of operation. If these debited amounts are less than what is actually owed, Cream will debit the account for the balance. Conversely, if the debited amounts are greater than what is owed, Cream will credit the excess against future debits.