What is the fee for payment non-compliance for a Casiola franchise?
Casiola Franchise · 2024 FDDAnswer from 2024 FDD Document
| Reporting Non-Compliance | $150 per occurrence | 14 days of invoice | Payable for failure to timely submit Royalty and Activity Reports, and other reports and financial statements as required under Franchise Agreement. |
| Operations Non-Compliance | $500 to $1,000 per occurrence | 14 days of invoice | Payable for failure to comply with operational standards as required under Franchise Agreement, plus inspection and re-inspection costs incurred by us. |
| Payment Non-Compliance | $150 per occurrence | 14 days of invoice | Payable for failure to timely pay, when due, a fee or payment due to us under the Franchise Agreement, plus interest, costs and legal fees. |
Source: Item 6 — OTHER FEES (FDD pages 12–18)
What This Means (2024 FDD)
According to Casiola's 2024 Franchise Disclosure Document, a franchisee will be charged a fee for payment non-compliance. This fee is $150 per occurrence and is due 14 days from the invoice date.
This fee is payable if the franchisee fails to make timely payments that are due to Casiola under the Franchise Agreement. In addition to the $150 fee, the franchisee is also responsible for interest, costs, and legal fees associated with the late payment.
It is important for prospective Casiola franchisees to understand all the fees associated with the franchise, including the payment non-compliance fee, to ensure they can meet their financial obligations and avoid penalties. Paying fees on time is crucial for maintaining a good relationship with the franchisor and avoiding potential legal issues.