On what page of the Dryject FDD can I find information about banking procedures?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
ADDENDUM F TO FRANCHISE AGREEMENT ELECTRONIC FUNDS TRANSFER (EFT) AUTHORIZATION AGREEMENT FOR DIRECT PAYMENTS
I (We, if joint account) the undersigned hereby authorize DryJect Management, LLC, a Pennsylvania limited liability company, with principal offices at 307 Lincoln Avenue, Hatboro, Pennsylvania 19040, to initiate electronic transfer of funds out of my (our) primary Checking or Savings selected below at the Financial Institution indicated, for payment of Royalty Service Fees or other amounts which I may owe DryJect Management, LLC. I (We) acknowledge that the origination of Automated Clearing House (ACH) transactions to my (our) account must comply with the provisions of the United States law. All costs and expenses, including any resulting from the dishonor by my (our) bank of any electronic funds transfer, shall be my (our) sole responsibility. This authorization is irrevocable and shall remain in effect until the termination or expiration of the underlying Franchise Agreement with DryJect Management, LLC. If I (we) do not have enough money in my (our) account to cover the transfer or if my (our) Financial Institution for any other reason refuses to honor a transfer, I (we) will separately pay for the charges I (we) owe under my (our) Franchise Agreement with DryJect Management, LLC.
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to the 2025 Dryject FDD, information regarding banking procedures can be found in Addendum F to the Franchise Agreement, specifically concerning the Electronic Funds Transfer (EFT) Authorization Agreement for Direct Payments. This addendum outlines the process for Dryject Management, LLC to initiate electronic transfers of funds from the franchisee's checking or savings account for the payment of Royalty Service Fees or other amounts owed to Dryject Management, LLC. The agreement emphasizes compliance with United States law regarding Automated Clearing House (ACH) transactions.
This section of the FDD clarifies that the franchisee is responsible for all costs and expenses, including those resulting from dishonored electronic funds transfers. The authorization is irrevocable and remains in effect until the termination or expiration of the Franchise Agreement. It also specifies that if the franchisee's account lacks sufficient funds or the financial institution refuses to honor a transfer, the franchisee is obligated to separately pay the owed charges under the Franchise Agreement.
This agreement ensures that Dryject has a reliable method for receiving payments from franchisees. For a prospective franchisee, this means understanding and agreeing to the terms of electronic funds transfers, ensuring sufficient funds are available in the designated account, and being prepared to cover any fees associated with failed transfers. It is important to carefully review this addendum and understand the obligations related to electronic payments to avoid potential issues or penalties during the franchise term.