For the owner acquiring the account, they will be sent a few docusigns to complete and sign in this process.
- Transfer Authorization Form (TAF)
- Confirming the acquisition of this studio
- The confirmed transfer date
The form will be emailed to, and signed by both the former and the new owner. Along with this, the new owner will directly receive the LER (Legal Entity Request) to provide documentation for the legal entity and bank account they wish to have on file.
Once both are completed, the final form necessary in this process is the Sub-Merchant Application & Agreement (SMAA) which will be completed and signed by the new owner to confirm personal, banking, and legal entity information, as well as detailing the terms and conditions under which the business can process payments with ClubReady.
If all forms are completed before the transfer date, on that date the Merchant Team will create a new merchant account with all their information, and integrate the new account into the respective site. Immediately after, the new owner will be given site access and can begin processing transactions upon receiving confirmation.