What is the interest rate applied to late payments to All Dogs Unleashed?
All_Dogs_Unleashed Franchise · 2025 FDDAnswer from 2025 FDD Document
ty Fee and other amounts owed under this Agreement upon receipt of written notice by Franchisor. Your failure to have sufficient funds in the Account is a material breach of this Agreement.
- 4.8. Interest; Nonsufficient Funds Charge. Any payments not received by Franchisor by the Due Date will accrue interest at the rate of 18% per annum or the highest lawful interest rate permitted by the jurisdiction in which the Franchised Business operates, whichever is less. If any check, draft, electronic or otherwise, is returned for insufficient funds, you shall pay to Franchisor a nonsufficient funds charge in the amount of the then current fee, which is currently $100, and reimburse Franchisor for all expenses that it incurs on account of such nonsufficient funds. These charges are in addition to any other rights or remedies Franchisor may have under this Agreement or applicable law. If you fail to submit your Gross Sales statement or any
Source: Item 23 — RECEIPTS (FDD pages 49–158)
What This Means (2025 FDD)
According to All Dogs Unleashed's 2025 Franchise Disclosure Document, any payments not received by the due date will accrue interest. The interest rate is set at 18% per annum, or the highest lawful interest rate permitted by the jurisdiction where the All Dogs Unleashed franchised business operates, whichever is less. This means a franchisee could face a significant financial penalty for failing to make timely payments.
In addition to interest on late payments, All Dogs Unleashed also charges a nonsufficient funds fee. If a payment is returned due to insufficient funds, the franchisee will be charged a fee, which is currently $100, along with reimbursement for all expenses incurred by All Dogs Unleashed because of the returned payment.
All Dogs Unleashed also imposes a late fee for failing to submit the required gross sales statement or any other required information. The current late fee is $100 per late payment. These charges for late payments and insufficient funds are in addition to any other legal remedies All Dogs Unleashed may pursue under the Franchise Agreement or applicable law. Franchisees should be aware of these potential costs and ensure they manage their finances and reporting obligations carefully to avoid incurring these additional expenses.