If there are inconsistencies, which document takes precedence regarding the non-sufficient funds fee for a Fly Fitness franchise: Section 6.4 of the Franchise Agreement or this FDD?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
In recognition of the requirements of the Minnesota Statutes Chapter 80C, the parties to the attached Fly Fitness Franchise Agreement (the "Franchise Agreement") agree as follows:
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- To the extent of any inconsistencies, Section 6.4 of the Franchise Agreement is hereby amended to state that the non-sufficient funds fee is Thirty Dollars ($30.00) per occurrence.
Source: Item 22 — CONTRACTS (FDD pages 44–45)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, in the state of Minnesota, there is an amendment to the franchise agreement that addresses inconsistencies between the agreement and Minnesota law. Specifically, regarding the non-sufficient funds (NSF) fee, Section 6.4 of the Franchise Agreement is amended.
The amendment states that to the extent of any inconsistencies, Section 6.4 of the Franchise Agreement is amended to reflect that the non-sufficient funds fee is $30.00 per occurrence. This means that if the Franchise Agreement states a different amount for the NSF fee, the $30.00 amount specified in the FDD amendment takes precedence in Minnesota.
For a prospective Fly Fitness franchisee in Minnesota, this amendment ensures that the NSF fee charged will comply with Minnesota law, regardless of what the original Franchise Agreement states. This provides clarity and protection for the franchisee, ensuring they are not charged an NSF fee that is inconsistent with state regulations.