Franchise Bible by Erwin Keup

Author:Erwin Keup
Language: eng
Format: epub
Publisher: Entrepreneur Press
Published: 2011-03-10T05:00:00+00:00

6.12 Acceptable Insurance Companies. All insurance will be with insurers acceptable to us. Insurance amounts may be changed from time to time upon receipt of written demand from us. All policies of insurance will be renewed timely and copies of all policies and certificates, together with evidence of payment of premiums, will be delivered to us at least thirty (30) days prior to the expiration of such policies by certified mail or by hand delivery with receipt.

6.13 Customer Disputes. You will use your best efforts to resolve satisfactorily any customer disputes and refund any amounts disputed by the customer for services that the customer deems unsatisfactory. (See also Article 7.9 for further details.)

6.14 Reports, Agencies, and Organizations. You are also required to compile and report certain information to us as required by us or the Operations Manual. You also must maintain any membership and/or filing requirements with agencies and organizations necessary to enable your continued functioning as a franchisee. You must file duplicate copies of reports with us when filed with any agency or organization.

6.15 Monthly Financial Statements. You must submit to us, no later than the 10th day of each month during the term of the Franchise Agreement, a monthly gross sales and revenue statement and a detailed report evidencing the advertising that you purchased on forms prescribed by us accurately reflecting all gross sales and revenues during the preceding month and such other data and information regarding the operation of the franchised business as we may require.

6.16 Annual Financial Statements. Annually, within sixty (60) days after the close of your fiscal year, you are to submit to us, if we so request it in writing, an income and expense statement and a balance sheet as well as any other statement that we may request reflecting the operation of your business as it stands at the end of the fiscal year, setting forth in each case corresponding figures in comparative form for the preceding year and compiled by you or by your accountant. All statements must be in reasonable detail and in accordance with generally accepted accounting practices and accompanied by a declaration from you with reports of information required by us each year for completion by you.

6.17 Franchisee’s Tax Returns. Annually, within 120 days after the close of your fiscal year, you are required to submit to us, if we so request it in writing, a copy of your federal and state tax returns and all amendments thereto prepared for the franchise business and a letter from you or your accountant stating as applicable whether or not (1) all payroll tax returns have been filed and payroll taxes paid to the end of the fiscal period, (2) all federal returns have been filed and taxes, and (3) all state income tax returns have been filed and any payments due have been paid.

6.18 Cost of Accounting Services. The costs of your accounting services for the above requirements are your responsibility and may vary substantially upon your size and location, but the requirements are imposed uniformly on all franchisees.

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