What payment methods are acceptable for Dryer Vent Squad Royalty Fees?
Dryer_Vent_Squad Franchise · 2024 FDDAnswer from 2024 FDD Document
apply any payments received from Franchisee or to offset any
indebtedness of Franchisor to Franchisee to any past due indebtedness of Franchisee for Royalty Fees, Advertising Contributions, purchases from Franchisor or its affiliates, interest or any other indebtedness of Franchisee to Franchisor or its affiliates.
5.H. WITHHOLDING PAYMENTS UNLAWFUL
Franchisee agrees that under no circumstance is Franchisee entitled to withhold payments due to Franchisor under this Agreement. Among other things and without limitation to the foregoing, Franchisee expressly agrees that any claim by Franchisee as to the alleged non-performance of Franchisor's obligations shall not permit and/or entitle Franchisee to withhold payments due Franchisor under this Agreement.
ARTICLE 6 RESTRICTIVE COVENANTS AND OBLIGATIONS
**6.A.
Source: Item 23 — RECEIPTS (FDD pages 51–207)
What This Means (2024 FDD)
Based on the 2024 Dryer Vent Squad Franchise Disclosure Document, the document does not specify the acceptable payment methods for royalty fees. However, it does state that the franchisee is not entitled to withhold payments due to Dryer Vent Squad under any circumstances, including any claims of non-performance by the franchisor.
According to the FDD, upon termination or expiration of the agreement, the franchisee must immediately pay all sums and fees owed to Dryer Vent Squad, including royalty fees and advertising contributions. This highlights the importance of understanding the payment terms and ensuring timely payments to avoid penalties or termination of the franchise agreement.
To gain a comprehensive understanding of the acceptable payment methods for royalty fees, a prospective Dryer Vent Squad franchisee should directly inquire with the franchisor about the specific options available, such as electronic funds transfer, check, or other methods. Understanding these details is crucial for managing the financial obligations of the franchise.