What is the cure period for non-payment of Continuing Service Fees to the Bumper Man franchisor?
Bumper_Man Franchise · 2025 FDDAnswer from 2025 FDD Document
- (xi) Franchisee fails to pay any Continuing Service Fees or other amounts due hereunder to Franchisor within five days after Notice of nonpayment is delivered to Franchisee, or if Franchisee or its Affiliate fails to pay any amounts due to Franchisor under any promissory note or other written instrument and fails to cure such nonpayment within the time period prescribed therein;
Source: Item 23 — RECEIPTS (FDD pages 45–180)
What This Means (2025 FDD)
According to Bumper Man's 2025 Franchise Disclosure Document, a franchisee has a limited time to cure non-payment of Continuing Service Fees. Specifically, if a Bumper Man franchisee fails to pay any Continuing Service Fees or other amounts due to Bumper Man, they have only five days after receiving notice of nonpayment to correct the issue.
This short cure period underscores the importance of timely payments to maintain good standing with the Bumper Man franchise. Failure to remit payments within this timeframe could lead to further action from the franchisor, potentially including termination of the franchise agreement.
It's also important to note that the cure period may differ for other financial obligations. For instance, if a franchisee fails to pay amounts due under a promissory note or other written instrument, the cure period will be the one specifically prescribed in that particular document, which may be different than the five days mentioned for Continuing Service Fees.