How many equal monthly payments are required to fulfill the Buildingstars promissory note?
Buildingstars Franchise · 2025 FDDAnswer from 2025 FDD Document
| ess of FRANCHISEE: | |
|---|---|
| Date: | Date: |
| required to comply with and abide by such covenants and provisions. | For good and valuable consideration, the receipt of which is hereby acknowledged by each undersigned individual, each undersigned individual agrees to be personally bound by and personally liable for the breach of each of the provisions in Section IX (Trade Secrets and Confidential Information) and Section X (Restrictive Covenant) to the same extent as and for the same period of time as FRANCHISEE is |
| Print Name: | |
| Print Name: |
EXHIBIT I PROMISSORY NOTE
PROMISSORY NOTE
| For value received, the undersigned promise to pay to the order of BUILDINGSTARS |
|---|
| MANAGEMENT, INC.,, |
Source: Item 23 — RECEIPT (FDD pages 43–217)
What This Means (2025 FDD)
According to Buildingstars's 2025 Franchise Disclosure Document, a franchisee who signs a promissory note will make six equal monthly payments to fulfill the $600 principal. Each payment will be $100. The first payment is due on the 15th day of the month, 90 days after the execution of the Franchise Agreement. Payments will continue on the 15th day of each month for six months.
Buildingstars has the option to withhold the monthly note payment from the amount of billings it collects for the franchisee, according to Section VI.D of the Franchise Agreement. This means that Buildingstars can deduct the $100 payment directly from the revenue generated by the franchisee's customer accounts, simplifying the payment process.
This arrangement provides a structured repayment plan for the franchisee, allowing them to manage their finances with predictable monthly payments. The option for Buildingstars to withhold payments from billings can be beneficial for franchisees as it automates the payment process and reduces the risk of missed payments. However, franchisees should carefully review Section VI.D of the Franchise Agreement to fully understand the terms and conditions related to this withholding process.