Is there any indication in the Benjamin Franklin Plumbing FDD of what currency the '$$' values represent in this table?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
| Principal Amount: $ |
|---|
| (The Principal Amount is the Franchise Fee, plus any applicable Additional Population Fee, less the |
| Conversion Down Payment of $5,000.) |
| Effective Date: |
| 1. |
| Principal Amount. For value received, the undersigned ("Maker") hereby unconditionally |
| promises to pay to the order of Benjamin Franklin Franchising SPE LLC, a Delaware limited liability |
| company with its principal offices located at 7120 Samuel Morse Drive, Suite 300, Columbia, Maryland |
| 21046 ("Holder"), in lawful money of the United States of America, the amount of |
| and/100 Dollars ($ |
| ) ("Principal Amount") together with interest as set forth in Section 2.C. The |
| Principal Amount represents the Franchise Fee owed to Holder in connection with a BENJAMIN FRANKLIN |
| PLUMBING franchise agreement dated as of |
| ("Franchise Agreement"). |
| 2. |
| Payment Related Terms. |
| A. |
| Payment. Maker shall pay the Principal Amount and Interest Amount to Holder in forty |
| eight (48) equal monthly installments in the amount of |
| and |
| /100 Dollars ($ |
| ) |
| commencing |
| on |
| ("Payment Start Date") and with the final payment in the amount of |
| and/100 Dollars ($ |
| ) due on |
| . The attached amortization schedule reflects the |
| payment schedule and is incorporated into this Note. |
| In the event the Principal Amount is reduced in |
| accordance with the Franchise Agreement, Holder will adjust the Principal Amount and amortization |
| schedule accordingly. All ot |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to the 2025 Benjamin Franklin Plumbing FDD, the currency for dollar amounts is the United States Dollar. Specifically, the document mentions that the franchisee ("Maker") must pay Benjamin Franklin Franchising SPE LLC in "lawful money of the United States of America". This clarifies that all monetary figures presented in the context of the franchise agreement, including the franchise fee and any related payments, are denominated in U.S. dollars.
This is important for prospective Benjamin Franklin Plumbing franchisees as it establishes the financial framework of the agreement in a specific currency. Franchisees can accurately assess their financial obligations and plan their investments accordingly, knowing that all fees and payments are to be made in U.S. dollars. This eliminates potential confusion or discrepancies that could arise if the currency were not explicitly stated.
Furthermore, the FDD specifies a Conversion Down Payment of $5,000, reinforcing that the financial transactions are based in U.S. currency. The promissory note also refers to amounts such as the Principal Amount and installment payments in "Dollars ($)", further solidifying the use of U.S. dollars for all financial aspects of the Benjamin Franklin Plumbing franchise agreement.