How is 'Business Day' defined in the Chatime franchise agreement?
Chatime Franchise · 2025 FDDAnswer from 2025 FDD Document
The following words have these meanings in this Agreement unless the contrary intention appears:
- (6) Business Day means a day that is not a Saturday or Sunday or any other day which is a
public holiday in the place where an act is to be performed or a payment is to be made.
Source: Item 23 — Receipts (FDD pages 58–262)
What This Means (2025 FDD)
According to Chatime's 2025 Franchise Disclosure Document, a 'Business Day' is defined within the franchise agreement. Specifically, it refers to any day that is not a Saturday, Sunday, or a public holiday. This definition applies in the location where a particular action needs to be performed or where a payment is due.
This definition is important for franchisees as it clarifies the days on which certain obligations or transactions must be completed. For example, if a payment deadline falls on a Saturday, Sunday, or public holiday, the franchisee would have until the next business day to make the payment without being considered late. Similarly, if Chatime is required to perform an action by a certain date, that date is extended if it falls on a non-business day.
Understanding this definition helps franchisees manage their responsibilities and deadlines effectively, ensuring compliance with the franchise agreement. It's a standard clause in many franchise agreements to avoid confusion regarding deadlines and operational timelines, especially when dealing with financial transactions or time-sensitive actions.