Is there an ACH Authorization included as an attachment to the Hyper Kidz Franchise Agreement?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
cial symbols and trade dress as provided in this Agreement.
- 2.1.6 "Principals" All persons or entities holding direct or indirect legal or beneficial ownership interests in you and all persons who have other direct or indirect property rights in you, this Agreement, the Franchise or the Hyper Kidz Business. Each Principal having an equity ownership interest designated as Owner on Attachment 7 to this Agreement.
- 2.1.7 "Ownership Interests" In relation to a: (a) corporation, the legal or beneficial ownership of shares in the corporation; (b) partnership, the legal or beneficial ownership of a general or limited partnership interest; (c) limited liability company, the legal or beneficial ownership of units of membership interests in the limited liability company; or (d) trust, the ownership of a beneficial interest of suc
Source: Item 22 — CONTRACTS (FDD page 52)
What This Means (2024 FDD)
Based on the 2024 Hyper Kidz Franchise Disclosure Document, while the document discusses various attachments to the franchise agreement, it does not explicitly mention an ACH Authorization form as one of the attachments.
Specifically, Attachment 3 pertains to the Designated Territory and Attachment 6 refers to the Collateral Assignment of Lease. Attachment 7 relates to Principals having an equity ownership interest.
As the FDD does not specify whether an ACH Authorization form is included, prospective Hyper Kidz franchisees should directly confirm with the franchisor whether such a form is required and, if so, what its specific terms and conditions are. This is important for understanding payment processes and potential financial obligations.