When does the authorization for Pearce Bespoke terminate after written notification?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
| The undersigned depositor ("Depositor" or "Licensee") hereby authorizes Pearce Bespoke Franchising, LLC ("Licensor") to initiate debit entries and/or credit correction entries to the undersigned's checking and/or savings account(s) indicated below, and the depository designated below ("Depository" or "Bank") to debit or credit such account(s) pursuant to Licensor's instructions. Please attach a voided blank check, for purposes of setting up bank and transit numbers. |
|---|
| Depository: |
| Branch: |
| City, State Zip: |
| Bank Transit/ABA Number: |
| Account Number: |
| This authority is to remain in full force and effect until 60 days after Licensor has received written |
| notification |
| from Licensee of its termination or expiration. |
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to Pearce Bespoke's 2025 Franchise Disclosure Document, the authorization for debit and credit entries remains in effect until 60 days after Pearce Bespoke receives written notification from the licensee (franchisee) regarding termination or expiration.
This means that even after a franchisee sends a written notice of termination, Pearce Bespoke is authorized to continue debiting or crediting the franchisee's account for 60 days. This could be for ongoing fees, outstanding balances, or any other financial transactions related to the franchise agreement.
A prospective Pearce Bespoke franchisee should be aware of this 60-day window and plan accordingly when terminating the agreement. It is important to ensure that all financial obligations are settled and to monitor account activity during this period to avoid any unexpected or unauthorized transactions. Franchisees should also confirm the specific method and address for delivering written termination notices to ensure proper and timely receipt by Pearce Bespoke.