What is the standard late fee charged by Bombs Away, excluding interest?

According to the 2024 Bombs Away Franchise Disclosure Document, if a franchisee fails to make a required payment when due, Bombs Away may charge a late fee of $30. The FDD specifies that the late fee could be less than $30 if that amount exceeds the maximum late fee allowed by law in a particular jurisdiction. In that case, the late fee will be the highest amount legally permitted.

In addition to the $30 late fee, Bombs Away also charges interest on the unpaid amount. The interest rate is 18% per year, unless that rate exceeds the maximum interest rate allowed by law. If the 18% interest rate is unlawful, Bombs Away will charge the highest interest rate legally permitted.

Prospective Bombs Away franchisees should be aware of these late fee and interest charges and ensure they make all payments on time to avoid incurring these additional costs. It is also important to understand the specific laws in your jurisdiction regarding maximum late fees and interest rates, as these may affect the amount Bombs Away can legally charge.