How long does the authorization remain in effect for Pearce Bespoke?
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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| 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. |
| AGREED: |
| LICENSEE: |
| [FRANCHISEE ENTITY] |
| Signature: |
| Name: |
| Title: |
| Date: |
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to Pearce Bespoke's 2025 Franchise Disclosure Document, the authorization for Pearce Bespoke Franchising, LLC to initiate debit and credit entries to the franchisee's bank accounts remains in effect until 60 days after Pearce Bespoke receives written notification from the franchisee of its termination or expiration.
This means that Pearce Bespoke has the right to debit or credit the franchisee's account based on the instructions until the franchisee terminates the authorization in writing. The franchisee must provide a written notice to Pearce Bespoke to terminate the authorization. The authorization remains active for 60 days after Pearce Bespoke receives this written notice.
This agreement ensures Pearce Bespoke can manage financial transactions efficiently, but it also places a responsibility on the franchisee to formally terminate the authorization to prevent unintended debits or credits after the franchise agreement ends. Franchisees should be aware of this clause and ensure they send written notification in a timely manner when the agreement is terminated to avoid any potential issues.