Does Ledgers specify how the banking information and voided check should be submitted?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Please complete the following with your banking information and attach a voided check: | |
|---|---|
| Company Name: | |
| Name of Financial Institution: | |
| Address of Financial Institution: | |
| Routing Number: | |
| Account Number:_ | |
| I hereby authorize Loyalty Business Services LLC and the financial institution named above to initiate entries to my checking or savings accounts as identified above in accordance with the terms of my franchise agreement and, if necessary, to initiate adjustments for any transactions credited in error. This authority will remain in effect until I notify Loyalty Business Services LLC in writing to cancel it in such time as to afford a reasonable opportunity to act on such instructions. I can stop payment of any entry by notifying the above-named financial institution at least three (3) my account is scheduled to be charged. I can have the amount of an erroneous charge immediately credited to my account for up to fifteen (15) days following issuance of my statement by the above-referenced financial institution or up to sixty (60) days after deposit, whichever occurs first. | or the above-named financial institution days before |
| Signature: | |
| Printed Name of Person Signing: | |
| Title (if any): | |
| Application Date: | |
| Telephone Number: | |
| Applicant's Address: | |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
The 2025 Ledgers Franchise Disclosure Document includes a section for banking information and a voided check to be attached. However, it does not specify the method for submitting this information.
While the document provides a template to complete with the company name, financial institution details, routing and account numbers, and authorization for Loyalty Business Services LLC to initiate entries, it omits instructions on how to actually submit the completed form and voided check.
A prospective Ledgers franchisee should clarify with the franchisor the preferred method for submitting this banking information, whether it be via mail, secure online portal, or another means. Knowing the proper submission procedure is essential for setting up accurate and timely financial transactions related to the franchise agreement.