What is the deadline for a Byrider franchisee to cure a deficiency after receiving written notice from the company to avoid penalties?

According to Byrider's 2025 Franchise Disclosure Document, a franchisee typically has five business days to cure a deficiency after receiving written notice from Byrider to avoid penalties for the first occurrence of the deficiency. This cure period applies to instances where the franchisee is not in compliance with the terms and conditions of the franchise agreement or the company's operating and quality standards.

However, the cure period can vary depending on the nature of the deficiency. For instance, if a franchisee fails to pay amounts due to Byrider or its affiliates, the cure period is ten business days after written notice. For other failures to comply with the agreement, such as abandoning the business, failing to maintain insurance, interfering with inspections, or violating confidentiality, the cure period is thirty days after written notice.

It's important to note that Byrider can terminate the franchise agreement immediately without an opportunity to cure under certain circumstances, such as failure to purchase or maintain required insurance. Additionally, if a franchisee fails three consecutive compliance audits, Byrider has the right to terminate the agreement. Therefore, franchisees must pay close attention to the specific terms of the notice and the franchise agreement to understand the applicable cure period and potential consequences of non-compliance.