In what currency must payments be made to Americas Best Value Inn?
Americas_Best_Value_Inn Franchise · 2025 FDDAnswer from 2025 FDD Document
nt of an alternative payment fee that is subject to change. We may, at any time, modify the required method of payment by providing you with at least 30 days' prior notice. Your obligation to pay amounts due to us or to any of our designees will not be suspended as a result of any interruption to your business, regardless of the cause. All amounts payable by you or your owners to us or our affiliates must be in United States Dollars ($USD), unless we specify otherwise.
- (c) No Right of Setoff. Your obligations to make payments in accordance with this Agreement are absolute and unconditional. They are not subject to any setoff for any reason whatsoever.
- (d) Late Charges. If any payment under this Agreement or any other agreement between you and us is overdue for any reason you will pay to us on demand a late charge equal to the lesser of (a) 1.5% of the overdue amount or (b) the maximum rate allowed by law. If a greater amount than may be lawfully
collected is inadvertently collected, it will be applied to reduce outstanding amounts owed under this Agreement. You acknowledge and agree that if you fail to pay any amounts when due, we may report your delinquent payment to credit bureaus.
- (e) Taxes. If any gross receipts, sales, use, excise, or any similar tax that is based upon gross income or revenues is imposed upon us for the receipt of any payments you are required to make to us under this Agreement, then you must also pay us, as applicable, an amount equal to such tax. If any gross receipts, sales, use, excise or any similar tax that is based upon gross income or revenues is imposed upon the payment made pursuant to this Section 5.(e), the amount due under this Section 5.(e) will be an amount such that the net amount retained by us, after payment of such tax, equals the tax imposed on all payments made under this Agreement
Source: Item 23 — RECEIPTS (FDD pages 71–223)
What This Means (2025 FDD)
According to the 2025 Americas Best Value Inn Franchise Disclosure Document, all payments to Americas Best Value Inn or its affiliates must be made in United States Dollars (USD), unless the company specifies otherwise. This requirement ensures that all financial transactions between the franchisee and franchisor are conducted in a standard currency, simplifying accounting and reducing currency exchange risks.
Americas Best Value Inn retains the right to modify the required method of payment, provided they give the franchisee at least 30 days' notice. This allows the company to adapt to changing financial systems or preferences. However, the franchisee's obligation to pay is not suspended if there are interruptions to their business, regardless of the cause, reinforcing the consistent payment expectation.
This policy is typical in franchising, as it provides clarity and consistency in financial dealings. Prospective franchisees should be aware of this requirement and factor it into their financial planning. While the standard currency is USD, franchisees should stay informed of any potential changes to payment methods communicated by Americas Best Value Inn.