Within how many days of executing the agreement must a Byrider licensee pay the Initial Fee?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
Licensee shall pay to Licensor the amount specified in Appendix B, attached hereto and incorporated herein by reference, in accordance with the terms specified in Appendix B.
The Initial Fee shall be paid within thirty (30) days of execution of this Agreement.
The Conversion Fee shall be paid within thirty (30) days of the initial usage of the Licensed System.
The Monthly Usage Fee shall be paid by the 15th of each month for the previous month's usage.
The Custom Support Fee shall be paid within thirty (30) days of invoicing.
The Monthly Usage Fee and Custom Support Fee are subject to an increase or decrease at the discretion of the Licensor.
An increase per fee shall not occur more than once per calendar year and is subject to at least ninety (90) days advance notice to the Licensee.
Source: Item 23 — Receipts (FDD pages 88–335)
What This Means (2025 FDD)
According to the 2025 Byrider Franchise Disclosure Document, a licensee must pay the initial fee within 30 days of executing the agreement. This requirement is part of the fees outlined in the agreement between the licensee and licensor.
Specifically, the initial fee is just one of several fees that a Byrider licensee will be responsible for. Other fees include the Conversion Fee, Monthly Usage Fee, and Custom Support Fee, each with its own payment terms. The Conversion Fee is due within 30 days of the initial usage of the Licensed System, the Monthly Usage Fee is due by the 15th of each month for the previous month's usage, and the Custom Support Fee is due within 30 days of invoicing.
It's important to note that the Monthly Usage Fee and Custom Support Fee are subject to change at the licensor's discretion, but increases to these fees cannot occur more than once per calendar year and require at least 90 days' advance notice to the licensee. This provides some level of predictability for the licensee's financial planning. The licensee should carefully review Appendix B of the agreement, which specifies the amounts and terms for these fees.