factual

What is the cure period for failing to make a payment to Beyond Juicery Eatery on time?

Beyond_Juicery_Eatery Franchise · 2025 FDD

Answer from 2025 FDD Document

The following shall constitute Events of Default by Developer or any Principal for which there shall be a cure period of fifteen (15) days after written notification from us: (i) failure to meet and/or maintain the Standards and Specifications; (ii) an Event of Default shall arise under any Franchise Agreement under which Developer has an opportunity to cure, in which case, the cure period under this Agreement shall coincide with the cure period of the Franchise Agreement; (iii) an Event of Default shall arise under any agreement between you and any affiliate of yours and any approved or designated supplier or other vendor.

There shall be a cure period of ten (10) days for failure to make any Payment on or before the date payable.

  • B.

The following shall constitute Events of Default by you or any Principal Owner for which, unless a shorter period is provided below, there shall be a cure period of fifteen (15) days after written notification from us: (i) failure to make any Payment on or before the date payable; (ii) failure to meet and/or maintain the Standards and Specifications; (iii) failure to meet and/or maintain the requirements of the Operations Manuals, including but not limited to, failure to ensure your staff are properly trained; (iv) an Event of Default shall arise under any other agreement you or one of your affiliates have with us in which there is an opportunity to cure, in which case, the cure period under this Agreement shall be extended to coincide with the cure period of the other agreement; (v) you understate your Royalty by five percent (5%) or more; (vi) you fail, for a period of ten (10) days after notification of non-compliance by appropriate authority, to comply with any law or regulation applicable to the operation of your Restaurant; (vii) you abandon or cease to operate all or any part of your Restaurant for two (2) days in a thirty (30) day period from the date of last closure; (viii) you fail to comply with modifications to System Standards and Specifications within the required time period; (ix) you fail to carry or have a lapse in coverage of the insurance we require; and do not correct within five (5) days of receipt of written notice to you; (x) you fail to receive our prior written approval and use products or materials that do not meet our Standards and Specifications and do not promptly discontinue use after written notice from us; (xi) you fail to timely provide us with any report, statement, or return required by this Agreement; (xii) you commit a breach or are in default under any agreement with us, any affiliate of ours, your landlord, any of our Approved or Designated Suppliers, or any other supplier or vendor that provides goods or services to you. If you cannot reasonably cure the Event of Default within fifteen (15) days, you shall provide us notice thereof (together with your best estimate of the time period required to complete such cure) and immediately undertake efforts to cure such default within the fifteen (15)

Source: Item 23 — RECEIPTS (FDD pages 60–337)

What This Means (2025 FDD)

According to Beyond Juicery Eatery's 2025 Franchise Disclosure Document, if a developer fails to make a payment on time, they have a 10-day cure period after receiving written notification from Beyond Juicery Eatery. This cure period allows the developer to rectify the payment issue and avoid further default consequences.

However, the standard franchise agreement provides a 15-day cure period for franchisees who fail to make payments on time, after receiving written notification. This discrepancy highlights the importance of understanding which agreement—the Franchise Agreement or the Area Development Agreement—governs the specific situation.

It is important to note that if the default cannot be reasonably resolved within the specified cure period, the franchisee or developer must provide notice to Beyond Juicery Eatery with an estimated timeframe for completion and diligently work towards resolving the issue. However, any extension of the cure period requires Beyond Juicery Eatery's prior written consent, emphasizing the need for proactive communication and diligent effort in addressing payment defaults.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.