What is the maximum late fee that Beem Light Sauna can charge per week?
Beem_Light_Sauna Franchise · 2025 FDDAnswer from 2025 FDD Document
restimate any fees due, we will credit the fees paid (without interest) against fees due in the next payment period after we receive accurate records regarding your Gross Sales.
- 3.17 Interest; Late Fee. If any payment due to us is not received in full by the due date, you agree to pay us daily interest on the amount owed, calculated from the due date until paid, at the rate of 18% per annum (or the ma
Source: Item 23 — RECEIPT (FDD pages 71–230)
What This Means (2025 FDD)
According to the 2025 Beem Light Sauna Franchise Disclosure Document, if a franchisee fails to make payments on time, Beem Light Sauna can charge interest and late fees. Specifically, Beem Light Sauna can charge a late fee of $100 for each week a payment is late.
However, this late fee is subject to increase with 60 days' prior written notice. The maximum late fee that Beem Light Sauna can charge is $250 per week.
In addition to the late fee, Beem Light Sauna also charges daily interest on the overdue amount. This interest is calculated from the due date until the payment is made, at a rate of 18% per annum, or the maximum rate permitted by law if that rate is less than 18%. Franchisees should be aware that Beem Light Sauna considers any late payments a default under the Franchise Agreement.