How much is the Late Payment Fee charged by Aunt Millies Bakeries, and when is it applied?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Late Payment Fees | 5% of the overdue monthly payment. | Upon demand | If you are in default of your payment to our Affiliates by more than 15 days |
Source: Item 6 — OTHER FEES (FDD pages 13–15)
What This Means (2025 FDD)
According to Aunt Millies Bakeries's 2025 Franchise Disclosure Document, a late payment fee is applied if a franchisee is in default of their payment to Aunt Millies Bakeries's Affiliates by more than 15 days. The late fee is 5% of the overdue monthly payment and is due upon demand.
This means that if an Aunt Millies Bakeries franchisee fails to make a payment on time and remains in default for more than 15 days, they will be charged an additional 5% of the overdue amount. This fee is intended to cover the administrative costs and potential financial losses associated with late payments. The franchisee should be aware of this policy and ensure timely payments to avoid incurring these additional charges.
It is important for prospective franchisees to carefully review the payment terms and conditions outlined in the Franchise Agreement to fully understand their obligations and the potential consequences of late payments. Understanding these terms can help franchisees manage their finances effectively and avoid unnecessary fees.