Where can I find the current form of EDTA documents for Pump It Up?
Pump_It_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
- (2) You must sign and deliver to us all documents we require to authorize us to electronically debit your business checking account automatically for the Royalty, Brand Fund contributions and other amounts due under this Agreement and for your purchases from us and/or our affiliates ("Electronic Depository Transfer Account" or "EDTA"). Our current form of EDTA documents are attached as Exhibit 3. We will debit the EDTA for the amounts due under the Agreement on their due dates. You agree to ensure that funds are available in the EDTA to cover our withdrawals. We may require you to pay any amounts due under this Agreement or otherwise by means other than automatic, electronic debit (e.g., by check) whenever we deem appropriate, and you agree to comply with our payment instructions. If we supply products to you, we may require pre-payment or cash on delivery, depending on our then-current policies and your payment history with us.
- (3) If we determine that you have failed to correctly report the Gross Revenues of the Franchised Business via the POpS System, we may debit your EDTA for 120% of the highest monthly Royalty and Brand Fund contribution that we previously debited from your EDTA. Once we determine the amount you actually owe to us, we will debit the EDTA the difference, or we will apply a credit towards your next month's Royalty.
- (4) All other fees payable to us pursuant to this Agreement shall be paid by electronic debit from your EDTA as due.
Source: Item 23 — RECEIPTS (FDD pages 60–225)
What This Means (2025 FDD)
According to Pump It Up's 2025 Franchise Disclosure Document, the current form of the Electronic Depository Transfer Account (EDTA) documents is attached as Exhibit 3 to the franchise agreement. Franchisees are required to sign and deliver all documents necessary to authorize Pump It Up to electronically debit their business checking account for royalties, brand fund contributions, purchases from Pump It Up or its affiliates, and other amounts due under the agreement.
Pump It Up will debit the EDTA for the amounts due on their due dates, and franchisees must ensure that sufficient funds are available to cover these withdrawals. However, Pump It Up retains the right to require payment by other means, such as check, if deemed appropriate. They may also require pre-payment or cash on delivery for product supplies, depending on the franchisee's payment history and Pump It Up's current policies.
If Pump It Up determines that a franchisee has underreported gross revenues through the POpS System, they may debit the EDTA for 120% of the highest monthly royalty and brand fund contribution previously debited. Once the actual amount owed is determined, Pump It Up will debit the difference or apply a credit to the next month's royalty payment. All other fees payable under the agreement will also be paid via electronic debit from the EDTA as they become due.