What are the payment terms for Bang Cookies' supplier review fees?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
| Non-compliance | Actual fees, costs, and expenses | On demand | Fees, costs and expenses incurred by us as a result of your breach or noncompliance with the terms of your Franchise Agreement. |
|---|---|---|---|
| Supplier Review | Actual fees, costs, and expenses | Within 14 days of invoice | You must pay us the costs incurred by us to review and evaluate a potential supplier, product, or service that you submit to us for approval. |
Source: Item 6 — OTHER FEES (FDD pages 13–17)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, if a franchisee wants to use a supplier, product, or service that has not yet been approved, Bang Cookies will review and evaluate the potential supplier. The franchisee is responsible for covering the costs Bang Cookies incurs during this review process. These supplier review fees are due within 14 days of the invoice date.
This means that a Bang Cookies franchisee needs to be prepared to pay these review fees promptly to avoid any potential late payment penalties or disruptions to their supply chain. It is important to factor in these potential costs when considering sourcing options and managing the business's finances.
Franchisees should communicate openly with Bang Cookies regarding potential suppliers and the associated review process to understand the potential costs involved and ensure timely payment. This proactive approach can help maintain a positive relationship with the franchisor and avoid any compliance issues.