What is the finance charge for late payments in California for a Bw Premier Collection franchise?
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 the 2025 Bw Premier Collection FDD, the finance charge for late payments in California is 10% of the delinquent account balance assessed annually. This finance charge is assessed after 45 days.
This means that if a Bw Premier Collection franchisee in California is late on payments, they will be charged 10% of the outstanding balance on an annual basis. This is lower than the general rate of 18% for franchisees outside of California. It is important for prospective franchisees to factor this potential cost into their financial planning and ensure timely payments to avoid incurring these charges.
Franchisees should be aware of the specific terms and conditions related to payment deadlines and late fees as outlined in their franchise agreement. Understanding these financial obligations is crucial for maintaining a healthy financial relationship with Bw Premier Collection and avoiding unnecessary expenses.