What is the payee for electronic fund transfers authorized by the Southern Steer franchisee?

According to the 2025 Southern Steer Franchise Disclosure Document, electronic fund transfers (EFT) are paid to Southern Steer Franchising International, LLC. As part of the franchise agreement, Southern Steer franchisees authorize their bank to directly pay Southern Steer Franchising International, LLC, the fees owed under the agreement through EFT.

Southern Steer requires franchisees to authorize their bank or financial institution to make these electronic payments for fees. The EFT withdrawal authorizations will be in a form prescribed by Southern Steer. These withdrawals are typically initiated by Southern Steer on Wednesdays for the preceding week's fees or on the first of each month for the previous month's fees. Southern Steer can also initiate a withdrawal upon issuing an invoice for other amounts owed by the franchisee.

The authorization permits Southern Steer to designate and adjust the withdrawal amount for fees. If a franchisee fails to provide required gross revenue reports, Southern Steer has the right to estimate the fees and withdraw the estimated amount via EFT. The franchisee also agrees to indemnify both the depository and Southern Steer for any losses if a debit is not honored, regardless of the reason.