How does Chatime define 'Business Day'?

According to Chatime's 2025 Franchise Disclosure Document, a 'Business Day' is defined as any day that is not a Saturday, Sunday, or a public holiday in the location where an action is required or a payment must be made. This definition is important for franchisees as it clarifies the days on which they are expected to fulfill certain obligations or make payments to Chatime. For example, if a royalty payment is due on a specific date and that date falls on a Saturday, Sunday, or public holiday, the payment would be due on the next business day.

Understanding this definition is crucial for managing the franchise effectively and avoiding potential late fees or penalties. Franchisees should be aware of the public holidays in their specific location to ensure they meet all deadlines and obligations outlined in the franchise agreement. This also affects any timelines specified in the agreement, ensuring both Chatime and the franchisee have a clear understanding of when actions must be completed.

This definition is fairly standard in franchise agreements, as it accounts for weekends and holidays when banks and other businesses may be closed. Franchisees should keep this definition in mind when scheduling payments, submitting reports, or fulfilling other contractual obligations to ensure compliance with the Chatime franchise agreement.