When does Bor Restoration begin collecting Royalties and other fees after the Opening Date?

According to Bor Restoration's 2024 Franchise Disclosure Document, Bor Restoration will begin collecting royalties and other fees 45 days after your Opening Date. The Opening Date is defined as the date by which the franchisee must be open for business, as defined more fully in Article 2 of the Franchise Agreement.

Franchisees must pay royalties and other fees monthly. These payments are due to Bor Restoration on or before the 16th day of the month following the month for which the royalties and other fees were calculated. If the 16th day of the month falls on a Saturday, Sunday, or federal or state holiday, the royalty payment will be due on the next business day.

Bor Restoration has the right to change the collection method of royalties and other fees at any time after giving the franchisee reasonable notice. If Bor Restoration decides to use the Automated Clearing House (ACH) method, the franchisee must execute an authorization agreement for ACH transactions from their account to Bor Restoration's account within ten days of receiving notice.