What is the purpose of the 'ID Number' field on the Pearce Bespoke Authorization Form?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 22: CONTRACTS]
ATTACHMENT C**–** ELECTRONIC DEPOSITORY TRANSFER
AUTHORIZATION FORM
Individual or Entity Name:
ID Number:
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke Franchise Disclosure Document, the Electronic Depository Transfer Authorization Form includes a field labeled 'ID Number'. The document does not specify what type of ID number is required, or how Pearce Bespoke uses this information.
Because the FDD does not clarify the purpose of the 'ID Number' field, prospective franchisees should seek clarification from Pearce Bespoke regarding what type of identification is needed (e.g., Employer Identification Number (EIN) or Social Security Number (SSN)), how the information is used, and how it is protected. Understanding the purpose and security measures associated with this information is crucial for compliance and protection against identity theft.
It is common practice for franchisors to collect banking information for the purpose of royalty payments and other fees. The authorization form included in the FDD allows Pearce Bespoke to directly debit franchisee accounts. However, the lack of clarity around the 'ID Number' field is unusual, as most forms clearly state what information is required and why.