When is interest payable to Canine Dimensions?
Canine_Dimensions Franchise · 2025 FDDAnswer from 2025 FDD Document
| Name of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Interest | 1.5% of the delinquent amount or the highest rate permitted by law, whichever is less. | Payable when any payment is overdue. | Payable only if you do not pay your bills on time. Interest begins from the date of underpayment. |
Source: Item 6 — OTHER FEES (FDD pages 10–13)
What This Means (2025 FDD)
According to Canine Dimensions's 2025 Franchise Disclosure Document, interest is payable when any payment is overdue. The interest rate is 1.5% of the delinquent amount or the highest rate permitted by law, whichever is less. Interest begins accruing from the date of the underpayment.
This means that if a Canine Dimensions franchisee fails to make any payment on time, they will be charged interest on the overdue amount. The interest rate is capped at the highest rate legally allowed, ensuring compliance with applicable laws. Franchisees should be aware of this policy and ensure timely payments to avoid incurring interest charges.
It is a common practice in franchising to charge interest on overdue payments. This incentivizes franchisees to make timely payments and compensates the franchisor for the delay in receiving funds. Franchisees should carefully review the payment terms outlined in the Franchise Agreement and budget accordingly to avoid late payments and associated interest charges.