Where can a Ledgers franchisee find the Automatic Bank Draft Authorization form?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
Note 2: Before you may open for business, you must sign and deliver to us all bank documents needed to permit us to debit your bank account via ACH Electronic Transfer for all fees and payments due to us. If you change your bank account or transfer your account to a different bank, you must notify us within one day, and sign and deliver to us and the bank new documents to permit us to debit your bank account within three days. We require you to execute an Automatic
Bank Draft Authorization and pay most fees to us via ACH electronic funds transfer. See Schedule 2 to the Franchise Agreement.
Source: Item 6 — OTHER FEES (FDD pages 17–20)
What This Means (2025 FDD)
According to Ledgers's 2025 Franchise Disclosure Document, the Automatic Bank Draft Authorization form can be found in Schedule 2 of the Franchise Agreement. Specifically, before opening for business, a Ledgers franchisee must sign and deliver all necessary bank documents to permit Ledgers to debit the franchisee's bank account via ACH Electronic Transfer for all fees and payments due.
If a franchisee changes their bank account or transfers it to a different bank, they are required to notify Ledgers within one day and provide new documents to permit Ledgers to debit the new bank account within three days. Ledgers requires franchisees to execute an Automatic Bank Draft Authorization, which is detailed in Schedule 2 of the Franchise Agreement, and to pay most fees via ACH electronic funds transfer.
This requirement ensures that Ledgers can efficiently collect fees and payments from its franchisees. Franchisees should carefully review Schedule 2 of the Franchise Agreement to understand the specific terms and conditions related to the Automatic Bank Draft Authorization, including any potential fees or penalties associated with failed transactions or late payments.