What are the conditions under which a Basecamp Fitness customer can pay off the agreement early?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
Provided no events of default have occurred, Owner will allow Customer to pay off the Agreement early for an amount equal to the sum of all remaining unpaid rental payments, discounted to a net present value at a rate up to five percent (5%), plus the purchase option price.
Source: Item 23 — RECEIPTS (FDD pages 62–248)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, a customer may be allowed to pay off their agreement early if no events of default have occurred. In this situation, the customer would need to pay an amount equal to the sum of all remaining unpaid rental payments.
The remaining rental payments are discounted to a net present value at a rate of up to five percent (5%). The customer must also pay the purchase option price to fully pay off the agreement early.
This early payoff option provides flexibility for Basecamp Fitness customers who may wish to terminate their agreement before the original term ends, provided they are in good standing with their payments and obligations. Franchisees should ensure that their customers understand these terms to avoid potential disputes.