How often does Deka Lash send a 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, Deka Lash's current policy is to send franchisees a monthly reconciliation of any amounts due, which they refer to as "Accounts Receivable" or "AR". These amounts can include royalties, Brand Development Fund contributions, product costs, gift card amounts, and refunds. Franchisees then have 3 calendar days to respond with any corrections, errors, or modifications to the Accounts Receivable.
If a Deka Lash franchisee does not respond within the 3 calendar day period, they are considered to have consented that the amount due is fair and accurate, and the full amount is due immediately. After this response period, Deka Lash will initiate an automatic account withdrawal for the amount due.
It is important to note that Deka Lash reserves the right to modify the payment methods and schedule in their Operations Manual, meaning the frequency of reconciliations or the response timeframe could change. Franchisees should stay aware of updates to the Operations Manual to ensure compliance and avoid any potential issues with payments.