What is the interest rate charged for late fees on unpaid amounts owed to Angry Chickz?
Angry_Chickz Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Late Fee | Interest of 18% per annum, or the highest interest rate allowable by law, on any unpaid amounts. | Upon demand | Due only if you are late in paying any amounts owed to us. |
Source: Item 6 — OTHER FEES1 (FDD pages 11–15)
What This Means (2025 FDD)
According to Angry Chickz's 2025 Franchise Disclosure Document, if a franchisee is late in paying amounts owed to Angry Chickz, they will incur a late fee. This late fee is calculated as an interest charge 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 pay fees or other amounts owed to the company on time, they will be charged interest on the outstanding balance. The interest rate will be the lesser of 18% per year or the maximum rate legally permitted in their jurisdiction. This late fee is in addition to the original amount owed and is payable as soon as Angry Chickz demands it.
Late fees are a common practice in franchising to encourage timely payments. Franchisees should be aware of all due dates and ensure payments are made promptly to avoid incurring these charges. It is important to note that the interest rate could vary depending on local laws, but will not exceed 18% per annum.