Prepaid dues liability

Definition

Membership money already collected for months not yet delivered, which Florida makes refundable pro rata.

Why It Matters

Florida registers each health studio location for three hundred dollars a year. It then tells the contract what it must say. A prepaid or installment health studio contract carries a penalty-free three-day cancellation, printed in ten point boldface, and a pro rata refund of the unused part. For a buyer that is a balance-sheet item wearing a marketing name. Every annual membership sold before closing is cash the seller banked and service the buyer owes, and the refund is computed on the days left.