Does the Chatime definition of 'Business Day' include all public holidays?
Chatime Franchise · 2025 FDDAnswer from 2025 FDD Document
- (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 specifically to exclude public holidays. This means that for any obligations or actions required under the Franchise Agreement that must occur on a 'Business Day', Saturdays, Sundays, and public holidays are excluded.
For a prospective Chatime franchisee, this definition is important because it affects deadlines and payment schedules. For example, if a payment is due on a particular day and that day falls on a Saturday, Sunday, or public holiday, the payment deadline would be extended to the next business day. This could impact cash flow management and adherence to the franchise agreement terms.
This definition is fairly standard in franchise agreements. It is crucial for franchisees to understand how 'Business Day' is defined, as misinterpreting it could lead to unintentional breaches of contract or late payments. Franchisees should carefully note all public holidays in their region and plan their business operations and financial obligations accordingly to avoid any issues with Chatime.