For My Salon Suite, what documentation must be attached regarding the designated bank account?
My_Salon_Suite Franchise · 2025 FDDAnswer from 2025 FDD Document
ATTACHMENT C TO THE FRANCHISE AGREEMENT AUTHORIZATION FOR ELECTRONIC FUNDS TRANSFER
SUITE MANAGEMENT FRANCHISING, LLC /PAYEE BANK NAME ACCOUNT# ROUTING#
The undersigned Depositor hereby authorizes and requests the Depository designated below to honor and to charge to the following designated account, checks, and electronic debits (collectively, "debits") drawn on such account which are payable to the above-named Payee. It is agreed that Depository's rights with respect to each such debit shall be the same as if it were a check drawn and signed by Depositor. It is further agreed that if any such debt is not honored, whether with or without cause and whether intentionally or inadvertently, Depository shall be under no liability whatsoever. This authorization shall continue in force until Depository and Payee have received at least thirty (30) days written notification from Depositor of its termination. This authorization shall apply to any new or updated bank account information provided to Payee.
The Depositor agrees with respect to any action taken pursuant to the above authorization:
- (1) To indemnify the Depository and hold it harmless from any loss it may suffer resulting from or in connection with any debit, including, without limitation, execution and issuance of any check, draft or order, whether or not genuine, purporting to be authorized or executed by the Payee and received by the Depository in the regular course of business for the purpose of payment, including any costs or expenses reasonably incurred in connection therewith.
- (2) To indemnify Payee and the Depository for any loss arising if any such debit shall be dishonored, whether with or without cause and whether intentionally or inadvertently.
- (3) To defend at Depositor's own cost and expense any action which might be brought by a depositor or any other persons because of any actions taken by the Depository or Payee pursuant to the foregoing request and authorization, or in any manner arising by reason of the Depository's or Payee's participation therein.
Source: Item 23 — RECEIPTS (FDD pages 95–230)
What This Means (2025 FDD)
According to My Salon Suite's 2025 Franchise Disclosure Document, Attachment C to the Franchise Agreement is the Authorization for Electronic Funds Transfer. This document includes the Suite Management Franchising, LLC, Payee Bank Name, Account Number, and Routing Number.
The document outlines that the depositor authorizes the depository to honor and charge the designated account for checks and electronic debits payable to My Salon Suite. The depository's rights are equivalent to those of a check drawn and signed by the depositor. The authorization remains effective until both the depository and My Salon Suite receive a 30-day written termination notice from the depositor and applies to any new or updated bank account information provided to the Payee.
The depositor agrees to indemnify the depository and My Salon Suite for any losses resulting from debits, including costs and expenses. They also agree to defend any actions brought by a depositor or other persons due to actions taken by the depository or My Salon Suite under the authorization. This ensures that My Salon Suite has the necessary authorization to manage electronic fund transfers and that both the franchisee and the depository are protected against potential liabilities.