Can Beef O Bradys designate different Payment Days for different amounts due?
Beef_O_Bradys Franchise · 2025 FDDAnswer from 2025 FDD Document
- 6.8 Interest on Late Payments. All amounts which you owe us will bear interest after their due date at the annual rate of 18% or the highest contract rate of interest permitted by law, whichever is less.
You acknowledge that we do not agree to accept any payments after they are due nor commit to extend credit to, or otherwise finance your operation of, the Family Sports Pub.
Your failure to pay all amounts when due constitutes grounds for termination of this Agreement, as provided in Section 16 of this Agreement.
- 6.9 Late Payment Penalties. All Royalties, Marketing Contributions, amounts due for purchases by you from us, and any interest accrued thereon, and any other amounts which you owe us, or our affiliates, are subject to a late payment fee of 10% of the amount due.
The late payment fee is due immediately on any
delinquent payments and any applicable interest begins to accrue from the first date of underpayment. The provision in this Agreement concerning late payment fees survives termination or expiration of this Agreement and does not mean that we accept or condone late payments, nor does it indicate that we are willing to extend credit to, or otherwise finance the operation of, your Family Sports Pub.
Source: Item 23 — RECEIPTS. (FDD pages 66–330)
What This Means (2025 FDD)
According to Beef O Bradys' 2025 Franchise Disclosure Document, all amounts owed to Beef O Bradys will bear interest after their due date at an annual rate of 18%, or the highest contract rate of interest permitted by law, whichever is less.
Beef O Bradys does not agree to accept any payments after they are due, nor commit to extend credit to, or otherwise finance the franchisee's operation of the Family Sports Pub. Failure to pay all amounts when due constitutes grounds for termination of the Franchise Agreement.
Royalties, marketing contributions, amounts due for purchases from Beef O Bradys, and any interest accrued, and any other amounts owed to Beef O Bradys or its affiliates, are subject to a late payment fee of 10% of the amount due. The late payment fee is due immediately on any delinquent payments, and any applicable interest begins to accrue from the first date of underpayment. This late payment fee provision survives termination or expiration of the Franchise Agreement and does not mean that Beef O Bradys accepts or condones late payments, nor does it indicate that they are willing to extend credit to, or otherwise finance the operation of, the Family Sports Pub.