When are Burneys Sweets More collection and interest charges due?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
| Name of Fee1 | Amount | Due Date | Remarks |
|---|---|---|---|
| Collection and Interest Charges | 10% or highest lawful rate if lower. | Immediately if payments not made when due. | This charge is in addition to other remedies such as late payment fees. |
Source: Item 6 — OTHER FEES (FDD pages 11–17)
What This Means (2025 FDD)
According to Burneys Sweets More's 2025 Franchise Disclosure Document, collection and interest charges are due immediately if payments are not made when due. The interest charge will be 10% or the highest lawful rate if lower. This charge is in addition to other remedies such as late payment fees.
For a prospective Burneys Sweets More franchisee, this means that failing to make payments on time can result in significant additional costs. The 10% interest charge, or the highest lawful rate, could substantially increase the amount owed, especially if the outstanding balance is large.
Franchisees should be aware of all payment due dates and ensure timely payments to avoid these charges. It is also important to note that these collection and interest charges are in addition to any other remedies Burneys Sweets More might pursue for late payments, such as late payment fees, potentially compounding the financial burden of late payments.