How many days does a Deka Lash franchisee have to respond to the monthly reconciliation of amounts due?
Deka_Lash Franchise · 2024 FDDAnswer from 2024 FDD Document
Currently our policy is that we will send you a monthly reconciliation of any amounts due to us ("Accounts Receivable" or "AR"), including Royalties, Brand Development Fund Contributions, products, gift cards, and refunds and give you 3 calendar days to respond with any corrections, errors or modifications to the Accounts Receivable.
If you do not respond within 3 calendar days, you consent that this amount due is fair and accurate and due immediately in full.
After the response period, we will then initiate an automatic account withdrawal for the amount due.
This policy may be updated in our Operations Manual.
Source: Item 23 — RECEIPT (FDD pages 63–234)
What This Means (2024 FDD)
According to Deka Lash's 2024 Franchise Disclosure Document, franchisees have a limited time frame to review and respond to monthly reconciliations. Specifically, Deka Lash provides franchisees with just 3 calendar days to respond to the monthly reconciliation of amounts due, which includes royalties, Brand Development Fund contributions, products, gift cards, and refunds. This reconciliation, referred to as "Accounts Receivable" or "AR", requires the franchisee to check for any corrections, errors, or modifications.
If a Deka Lash franchisee fails to respond within this 3-day period, they are considered to have consented to the amount due as fair and accurate. Following this response period, Deka Lash will initiate an automatic account withdrawal for the full amount due. This policy is subject to change, as Deka Lash reserves the right to update it in their Operations Manual.
This short response window places a significant responsibility on Deka Lash franchisees to promptly review their accounts and address any discrepancies. Franchisees should be prepared to dedicate time each month to this task to avoid unintended withdrawals. Given that Deka Lash may modify this policy in the Operations Manual, franchisees must stay informed of any changes to these procedures.