What payments will Dermani Medspa withdraw from my designated bank account by EFT?
Dermani_Medspa Franchise · 2025 FDDAnswer from 2025 FDD Document
- **3.6.
Method of Payment.** By executing this Agreement, you agree that we shall have the right to withdraw funds from your designated bank account by EFT in the amount of the Royalty Fee, System Marketing Fee, and any other payments due to us and/or our affiliates.
You shall, upon execution of this Agreement or at any time thereafter at our request, execute such documents or forms as we or your bank determine are necessary for us to process EFTs from your designated bank account for the payments due hereunder.
If payments are not received when due, interest may be charged by us in accordance with Section 3.4 above.
Upon written notice to you, you may be required to pay such fees directly to us in lieu of EFT, at our sole discretion.
We may require the payments, or automatic debits, be made more or less frequently than specified in Section 3.2, but not more frequently than once a week.
You agree to comply with our payment instructions as they may be modified from time to time.
Source: Item 23 — RECEIPTS (FDD pages 66–311)
What This Means (2025 FDD)
According to Dermani Medspa's 2025 Franchise Disclosure Document, franchisees agree to allow Dermani Medspa to withdraw funds from their designated bank account via Electronic Funds Transfer (EFT). These withdrawals will cover the Royalty Fee, System Marketing Fee, and any other payments due to Dermani Medspa or its affiliates. This means that franchisees should ensure they have sufficient funds in their account to cover these fees when they are due.
To facilitate these EFT payments, franchisees must execute any documents or forms that Dermani Medspa or the franchisee's bank deems necessary. If payments are not received on time, Dermani Medspa may charge interest. However, Dermani Medspa retains the right to require franchisees to pay these fees directly instead of through EFT, at their discretion, providing written notice.
Dermani Medspa also has the option to modify the frequency of these payments, making them more or less frequent than initially specified, but not more often than once per week. Franchisees are expected to comply with any payment instructions provided by Dermani Medspa, which may change over time. This arrangement ensures that Dermani Medspa can efficiently collect the necessary fees while retaining some flexibility in payment methods and frequency.