What item in the Pearce Bespoke FDD is amended regarding the Non-Sufficient Funds Fee?

According to Pearce Bespoke's 2025 Franchise Disclosure Document, Item 6, concerning the Non-Sufficient Funds Fee, is amended for franchisees operating in the state of Minnesota. The amendment specifies that the Non-Sufficient Funds Fee will be $30.00 per occurrence, as mandated by Minn. Stat. § 604.113. This means that if a Pearce Bespoke franchisee in Minnesota makes a payment to the franchisor that is returned due to insufficient funds, the franchisee will be charged a $30.00 fee. This amendment is required by the Commissioner of Commerce for the State of Minnesota to ensure consistency with the Minnesota Franchise Act.

This amendment directly impacts Pearce Bespoke franchisees in Minnesota by setting a fixed amount for Non-Sufficient Funds Fees. Franchisees should be aware of this fee and ensure they have sufficient funds available when making payments to avoid incurring the charge. It is important for prospective franchisees to understand the specific regulations and requirements in their state, as franchise agreements can be subject to state-specific amendments.

For prospective Pearce Bespoke franchisees outside of Minnesota, the standard terms outlined in Item 6 of the Franchise Agreement will apply regarding Non-Sufficient Funds Fees. Franchisees should carefully review Item 6 to understand the potential fees and charges that may apply in their specific circumstances. Understanding these financial obligations is crucial for managing the business effectively and maintaining a positive relationship with the franchisor.