Who must sign the Southern Steer authorization form?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
ATTACHMENT D AUTHORIZATION TO HONOR ELECTRONIC FUNDS TRANSFERS
PAYEE: SOUTHERN STEER FRANCHISING INTERNATIONAL, LLC BANK NAME: ACCOUNT NO.:
The undersigned Depositor hereby authorizes and requests the Depository designated below to honor and to charge to the following designated account, checks, drafts, orders and electronic debits (collectively "debits") drawn on such account which are payable to the above-named Payee. It is agreed that the Depository's rights with respect to each such debit will be the same as if it were a check drawn and signed by the Depositor. It is further agreed that if any such debit is not honored, whether with or without cause and whether intentionally or inadvertently, the Depository will be under no liability whatsoever. This authorization will continue in force until the Depository and the Payee have received at least thirty (30) days written notification from the Depositor of its termination.
The Depositor agrees with respect to any action taken pursuant to the above authorization:
- (1) To indemnify the Depository and hold it harmless from any loss it may suffer resulting from or in connection with any debit including, without limitation, execution and issuance of any check, draft or order, whether or not genuine, purporting to be authorized or executed by the Payee and received by the Depository in the regular course of business for the purpose of payment, including any costs or expenses reasonably incurred in connection therewith.
- (2) To indemnify the Payee and the Depository for any loss arising in the event that any such debit will be dishonored, whether with or without cause and whether intentionally or inadvertently.
- (3) To defend, at the Depositor's own cost and expense, any action which might be brought by any persons or Entities because of any actions taken by the Depository or the Payee pursuant to the foregoing request and authorization, or in any manner arising by reason of the Depository's or the Payee's participation therein.
Source: Item 22 — ITEM. 22 CONTRACTS (FDD pages 61–168)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, the "Authorization to Honor Electronic Funds Transfers" form must be signed by the Depositor. The depositor authorizes their bank to honor electronic debits payable to Southern Steer Franchising International, LLC. The depositor's bank account number must be included on the form.
The document specifies that the depository bank has the right to treat each debit as if it were a check drawn and signed by the depositor. The bank assumes no liability if a debit is not honored, regardless of the reason. This authorization remains in effect until both the depository and Southern Steer receive at least 30 days' written notification of termination from the depositor.
The depositor agrees to indemnify both the depository and Southern Steer for any losses resulting from actions taken under this authorization. This includes covering costs and expenses related to any debit, even if unauthorized, and defending against any legal actions arising from the depository's or Southern Steer's participation in the authorization. The depositor is responsible for any losses if a debit is dishonored, regardless of the reason.