For Atwell Suites hotels, what is the deadline for FreedomPay to receive transaction submissions for settlement?
Atwell_Suites Franchise · 2025 FDDAnswer from 2025 FDD Document
- 1.5. Hotel agrees that FreedomPay shall have no liability or obligation to Hotel for any transactions not submitted or reported to FreedomPay for settlement within sixty (60) days after the actual date of the transaction.
For transactions submitted or reported after such time limit, FreedomPay will attempt to settle such transactions if the data is available, but FreedomPay will have no liability to Hotel if it is unable to settle such transactions.
Source: Item 23 — Receipts (FDD pages 99–486)
What This Means (2025 FDD)
According to Atwell Suites's 2025 Franchise Disclosure Document, FreedomPay must receive transaction submissions within sixty days of the actual transaction date. If a hotel submits transactions after this 60-day period, FreedomPay will attempt to settle them if the data is available. However, FreedomPay assumes no liability if it cannot settle transactions submitted past the deadline.
This requirement means Atwell Suites franchisees must ensure timely and accurate submission of transaction data to FreedomPay to avoid potential issues with settlement. Failure to meet this deadline could result in the hotel not receiving payment for those transactions, impacting revenue and potentially creating accounting discrepancies.
To mitigate this risk, Atwell Suites franchisees should implement robust internal processes for transaction reporting and reconciliation. This includes training staff on proper data entry and submission procedures, regularly monitoring transaction logs, and promptly addressing any discrepancies or delays. Utilizing FreedomPay's status alerting system, as recommended in the FDD, can also help franchisees stay informed about any system issues that could affect transaction processing and submission.
While the FDD specifies the 60-day submission window, it does not detail the exact method or format for submitting transaction data to FreedomPay. Therefore, prospective Atwell Suites franchisees should clarify these procedures with the franchisor during their due diligence to ensure they can comply with the requirements and avoid any potential settlement issues.