What is the attachment number for the ACH Authorization Form in the Itan Franchise Agreement?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
You sign an ACH Authorization Form (attached to the Franchise Agreement as ATTACHMENT "E") permitting us to electronically debit your designated bank account for all amounts owed to us and our affiliates (other than fees due less than 15 days after signing the Franchise Agreement). You must deposit all Gross Sales into the bank account and ensure sufficient funds are available for withdrawal before each due date. You are responsible for all taxes imposed on you or us based on products, intangible property (including trademarks) or services we provide to you.
Source: Item 6 — OTHER FEES (FDD pages 11–15)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, the ACH Authorization Form is included as ATTACHMENT "E" to the Franchise Agreement. This form allows Itan to electronically debit the franchisee's designated bank account for all amounts owed to Itan and its affiliates. However, this excludes fees due less than 15 days after signing the Franchise Agreement.
This means that as a prospective Itan franchisee, you will be required to authorize Itan to directly withdraw funds from your bank account for ongoing fees and other financial obligations. It is important to ensure that you understand which fees will be debited and when, and to maintain sufficient funds in the designated account to avoid any penalties or disruptions.
Franchisees are responsible for depositing all Gross Sales into the bank account and ensuring sufficient funds are available for withdrawal before each due date. Franchisees are also responsible for all taxes imposed on them or Itan based on products, intangible property (including trademarks) or services Itan provides to them. This is a fairly standard practice in franchising, as it streamlines the payment process and ensures that the franchisor receives timely payments.