What is the monetary non-compliance fee for a Buona Franchisee's failure to furnish reports, financial statements, and tax returns?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
e of One Hundred Dollars ($100) per day, beginning on the first day after performance is due, up through and including the day the default is cured, if Franchisee fails to report the Gross Revenues of the Franchised Business and/or Daily Flash Reports as set forth in Section 4.2 by the stated deadline.
- b. Failure to Furnish Reports, Financial Statements and Tax Returns. Franchisee shall pay Franchisor
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, a franchisee will be charged a monetary non-compliance fee for failing to furnish reports, financial statements, and/or tax returns by the stated deadlines. This fee is in addition to any other remedies available to Buona.
The non-compliance fee is $100 per day. This daily fee starts accruing on the first day after the performance is due and continues until the day the default is cured.
This means that if a Buona franchisee is even a few days late submitting the required documents, they could face a significant penalty. It is important for prospective franchisees to understand and adhere to all reporting deadlines to avoid these fees.