Is there a maximum insufficient funds fee that Care Plus Medical Ucc can charge?
Care_Plus_Medical_Ucc Franchise · 2024 FDDAnswer from 2024 FDD Document
rate equal to 18% per year (or, if such payment exceeds the maximum allowed by law, then interest at the highest rate allowed by law).
- (d) Insufficient Funds. Care Plus Medical UCC may charge $
Source: Item 22 — CONTRACTS (FDD page 41)
What This Means (2024 FDD)
According to Care Plus Medical Ucc's 2024 Franchise Disclosure Document, Care Plus Medical Ucc can charge $30 for any payment returned due to insufficient funds. However, this amount is subject to legal limitations. If the $30 fee exceeds the maximum amount allowed by law, Care Plus Medical Ucc will only charge the maximum fee permitted by law.
This means that while Care Plus Medical Ucc has set a standard fee for insufficient funds, franchisees will only be charged that amount if it is legally permissible in their jurisdiction. It is the franchisee's responsibility to be aware of the laws in their area regarding maximum fees for insufficient funds.
This clause protects the franchisee from potentially excessive fees while also ensuring that Care Plus Medical Ucc can recover some of the administrative costs associated with handling returned payments. Franchisees should be aware of this policy and ensure they have sufficient funds available when making payments to Care Plus Medical Ucc to avoid incurring this fee.