Does the Spray Net Franchise Agreement include an exhibit related to EFT Authorization?
Spray_Net Franchise · 2025 FDDAnswer from 2025 FDD Document
EXHIBIT D TO THE FRANCHISE AGREEMENT
EFT AUTHORIZATION FORM
Bank Name: ABA# Acct. No.: Acct. Effective as of the date of the signature below, [Franchisee Name] its affiliates under the franchise agreement dated thefranchised business located at: Business"): (i)all Royalty Fees; (ii) Fund marketing materials or other supplies or inventory designee) as set forth in the Franchise Agreement. (the "Franchisee") hereby authorizes SPRAY-NET INC. (the "Company") or its designee to withdraw funds from the above-referenced bank account, electronically or otherwise, to cover the following payments that are due and owing Company or (the "Franchise Agreement") for (the "Franchised Contributions, Initial Marketing Investment, as well as other advertising/marketing amounts that Franchisee is required to expend in connection with the Franchised Business; (iii) any amounts due and owing the Company or its affiliates in connection with technology, that is provided by Company or its affiliates; and (iv) all other fees and amounts due and owing to Company or its affiliates under the Franchise Agreement. Franchisee acknowledges each of the fees described above may be collected by the Company (or its The parties further agree that all capitalized terms not specifically defined herein will be afforded the definition they are given in the Franchise Agreement. the above-referenced account. Such withdrawals shall occur on a weekly basis, or on such other schedule as Company shall specify in writing. This authorization shall remain in full force and effect until terminated in writing by Company. [Franchisee Name] shall provide Company, in conjunction with this authorization, a voided check from AGREED: [INSERT SPRAY-NET INC. NAME] Carmelo (Print): Marsala, President Its: Please attach a voided blank check, for purposes of setting up Bank and Transit Numbers.
Source: Item 23 — RECEIPTS (FDD pages 75–219)
What This Means (2025 FDD)
According to Spray Net's 2025 Franchise Disclosure Document, the Franchise Agreement includes an exhibit specifically for EFT (Electronic Funds Transfer) authorization. Exhibit D to the Franchise Agreement is titled "EFT Authorization Form." This form allows Spray Net or its designee to withdraw funds from the franchisee's bank account to cover various payments.
The EFT authorization covers royalty fees, contributions, initial marketing investments, advertising/marketing amounts, technology-related fees, and any other amounts due to Spray Net or its affiliates under the Franchise Agreement. These withdrawals will occur on a weekly basis or on another schedule specified by Spray Net in writing. The franchisee must provide a voided check along with the authorization form to set up the bank and transit numbers.
This authorization remains in effect until terminated in writing by Spray Net. The franchisee acknowledges that the fees described may be collected by Spray Net or its designee. All capitalized terms not specifically defined in the exhibit will have the same meaning as in the Franchise Agreement. This arrangement ensures that Spray Net can collect the necessary fees efficiently and consistently, while the franchisee agrees to allow these automatic withdrawals from their designated bank account.