When is the finance charge due and payable for a Bw Premier Collection franchise in California?
Bw_Premier_Collection Franchise · 2025 FDDAnswer from 2025 FDD Document
| Finance Charge | 1 ½ % of delinquent account balance assessed monthly (18% Annual Percentage Rate) (10% in | Due and payable upon statement receipt. | Finance charge for late payment of account, assessed after 45 days. |
|---|---|---|---|
| California) |
Source: Item 23 — Receipts (FDD pages 54–203)
What This Means (2025 FDD)
According to Bw Premier Collection's 2025 Franchise Disclosure Document, the finance charge for delinquent accounts in California is due and payable upon statement receipt. The finance charge is assessed after 45 days.
For a prospective Bw Premier Collection franchisee in California, this means that if an account balance is not paid within 45 days, a finance charge will be applied. This finance charge is 10% annually, which is lower than the 18% annual percentage rate applied in other locations.
It is important for franchisees to manage their accounts carefully and ensure timely payments to avoid incurring these finance charges. Franchisees should review their statements promptly upon receipt to understand the charges and due dates, and address any discrepancies immediately.