When completing the banking information form for Deka Lash, what document must be attached?
Deka_Lash Franchise · 2024 FDDAnswer from 2024 FDD Document
| Please complete the following with your banking information and attach a voided check: | |
|---|---|
| Company Name: | |
| Name of Financial Institution: | |
| Address of Financial Institution: | |
| Routing Number: |
Source: Item 23 — RECEIPT (FDD pages 63–234)
What This Means (2024 FDD)
According to Deka Lash's 2024 Franchise Disclosure Document, when completing the banking information form, you must attach a voided check. This form requires you to provide your company name, the name of your financial institution, the financial institution's address, and the routing number.
This requirement is fairly standard in franchising, as it allows Deka Lash to set up automatic payments or direct debits from the franchisee's account for ongoing fees, royalties, or other charges. Providing a voided check ensures that the banking information is accurate, reducing the risk of errors in electronic transfers.
Prospective franchisees should ensure they have a business checking account set up before completing this form to keep their personal and business finances separate. It is also important to review the terms and conditions of the automatic bank draft authorization to understand the frequency and amounts of the debits, as well as the procedures for disputing any unauthorized transactions.