What is the Licensee required to attach to the Pearce Bespoke Authorization Form?
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. |
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Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to Pearce Bespoke's 2025 Franchise Disclosure Document, a licensee must attach a voided blank check to the Pearce Bespoke Authorization Form. This check is required for the purpose of setting up the bank and transit numbers necessary for processing debit and credit entries to the licensee's checking or savings account. This authorization allows Pearce Bespoke Franchising, LLC to manage financial transactions related to the franchise agreement.
This requirement ensures that Pearce Bespoke can directly debit or credit the licensee's account for fees, royalties, or other financial obligations as outlined in the franchise agreement. The voided check provides the necessary banking information to facilitate these transactions accurately.
The authorization remains in effect until 60 days after Pearce Bespoke receives written notification from the licensee regarding termination or expiration of the agreement. This timeframe allows for any final transactions or reconciliations to be completed after the franchise relationship ends. Franchisees should keep this in mind when they plan to end their franchise agreement with Pearce Bespoke.