What is the interest rate charged on late fees for Angry Chickz?

According to Angry Chickz's 2025 Franchise Disclosure Document, if a franchisee is late in paying any amounts owed to Angry Chickz, they will be charged a late fee. This late fee accrues interest at a rate of 18% per annum, or the highest interest rate allowable by law, on any unpaid amounts. This fee is due upon demand from Angry Chickz.

This means that if an Angry Chickz franchisee fails to make timely payments for royalties, supplies, or any other financial obligations to the franchisor, they will incur this interest charge. The interest will be calculated on the outstanding balance and will continue to accrue until the payment is made. The clause allowing for "the highest interest rate allowable by law" means that if state or local laws permit a rate higher than 18%, Angry Chickz could potentially charge that higher rate.

Franchisees should be aware of this late fee policy and ensure they have sufficient financial management practices in place to avoid late payments. This is especially important considering that many franchise agreements contain provisions for default and potential termination if franchisees consistently fail to meet their financial obligations. Paying close attention to due dates and maintaining open communication with Angry Chickz regarding any potential payment issues can help franchisees avoid these charges and maintain a positive relationship with the franchisor.