Which item in the Crisp & Green Disclosure Document is amended to address reimbursement for 'insufficient funds' charges?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
| osure Document shall be effective only to |
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| the extent, with respect to such provision, that the jurisdictional requirements of the Maryland Franchise |
| Registration and Disclosure Law are met independently, without reference to |
Source: Item 23 — RECEIPTS (FDD pages 66–252)
What This Means (2024 FDD)
According to the 2024 Crisp & Green Franchise Disclosure Document, Item 6 is amended to address reimbursement for 'insufficient funds' charges specifically for franchisees in Minnesota. The addendum states that the amount Crisp & Green requires the franchisee to reimburse for any "insufficient funds" charges and related expenses incurred due to returned checks or failure to maintain sufficient funds for automatic debits is capped at $30, in accordance with Minnesota state law.
This amendment clarifies the financial responsibility of a Crisp & Green franchisee in Minnesota regarding insufficient funds. It protects the franchisee by limiting the reimbursement amount to $30, aligning with state regulations. This is particularly relevant for franchisees utilizing checks or automatic debit payments, as it sets a clear expectation for potential fees due to insufficient funds.
It is important to note that this amendment applies specifically to franchisees operating in Minnesota. Franchisees in other states may be subject to different regulations or reimbursement policies regarding insufficient funds. Therefore, prospective Crisp & Green franchisees should carefully review the state-specific addenda in the Franchise Disclosure Document to understand the regulations applicable to their location.