Is there a fee associated with the debit or credit entries initiated by 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.
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
The 2025 Franchise Disclosure Document does not explicitly state whether Pearce Bespoke charges a fee for initiating debit or credit entries to a franchisee's account. However, the document does authorize Pearce Bespoke to initiate these entries for various financial transactions.
Specifically, Pearce Bespoke is authorized to debit or credit a franchisee's checking or savings account based on the franchisor's instructions. This authorization remains in effect until 60 days after Pearce Bespoke receives written notification of termination or expiration from the franchisee. This authorization is related to the weekly calculation of Gross Sales, Net Sales, and Credit Card Sales, where certain fees are payable based on Gross Sales or Credit Card Sales.
While the FDD outlines the process for Pearce Bespoke to manage these transactions, it does not specify if any additional fees are levied for the debit or credit entries themselves. A prospective franchisee should clarify with Pearce Bespoke whether any such fees exist and, if so, what the amounts and conditions are.