Total Fitouts operates a direct debit facility for the payment of Initial Franchise Fees (“IFF”) subject to payment plan, Continuing Franchise Fees (“CFF”), Marketing Fund Fees (“MFF”), charges related to Total Fitouts Events, administration fees, and other reasonable costs.
The direct debit process is confirmed via the Direct Debit Authority (**add link to template) and subject to the following general terms.
Direct Debit Schedule:
- Invoices for CFF will be issued to Franchise Partners on the 1st of each month or the following business day.
- Invoices related to other fees and charges will be issued as required and amounts are incurred.
- Direct debits will be processed on the 7th of the month, or the following business day, unless otherwise advised or agreed with the Franchise Partner.
- It is the responsibility of the Franchise Partner to ensure that sufficient funds are available in the designated account on the scheduled debit date.
Failed Direct Debit:
- In the event that a direct debit fails due to insufficient funds, account closure, or any other reason, the Franchise Partner may incur the following:
- Administration Fees: A fee of $99 to cover administrative costs associated with failed direct debits.
- Bank Fees: Any fees applied by the Franchisor’s bank due to the failed direct debit will be passed on to the Franchise Partner in full.
- Default Interest: The Franchise Partner may be subject to the application of default or penalty interest applicable under the Franchise Agreement.
Discretionary Adjustment:
The franchisor reserves the right to adjust the direct debit amount to a portion of the amount invoiced at their discretion without prior notice to the Franchise Partner.
Amendments:
The franchisor reserves the right to amend this policy at any time with reasonable notice to the Franchise Partner.