What is the daily late fee for Royalty or other payments or reports that are late to Apricot Lane?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee | Amount | Due Date | Remarks* |
|---|---|---|---|
| Late Fees | $5 per day for each day the Royalty or other payment or reports are late | On demand | You must submit all payments and reports on time to avoid this fee, including semi-monthly statements of gross revenues which are due with your Royalty payments |
| Finance Charge | Lower of 18% or highest legal rate for open account business credit accrued from due date | On demand after due dates of late payment | Imposing the finance charge does not excuse your late payment or commit us to extend credit to you |
Source: Item 6 — OTHER FEES (FDD pages 11–14)
What This Means (2025 FDD)
According to Apricot Lane's 2025 Franchise Disclosure Document, if a franchisee is late on royalty payments, other payments, or reports, they will be charged a late fee. This late fee is $5 per day for each day the payment or report is late.
This fee is charged on demand, meaning Apricot Lane can request immediate payment of the accumulated late fees. To avoid these fees, franchisees must ensure all payments and reports are submitted on time, including semi-monthly statements of gross revenues, which are due with royalty payments. Royalty payments are 5.5% of gross revenues and are payable semi-monthly by the 20th and the 5th of each month.
Franchisees should note that in addition to late fees, Apricot Lane may also impose a finance charge on late payments. This finance charge is the lower of 18% or the highest legal rate for open account business credit, accrued from the due date. However, imposing a finance charge does not excuse the franchisee's late payment or commit Apricot Lane to extend credit.