How many days does a Cicis franchisee have to cure a failure to pay monies owed to Cicis or its affiliates?
Cicis Franchise · 2025 FDDAnswer from 2025 FDD Document
- (k) you, any of your affiliates, or any of your Owners fail, refuse, or neglect promptly to pay any monies owing to us, any of our affiliates, or the designated suppliers when due under this Agreement or any other agreement (including any other development or franchise agreement with us for any type of facility), or to submit the financial or other information required by us under this Agreement and do not cure such default within five (5) days following notice from us;
Source: Item 22 — CONTRACTS (FDD pages 64–65)
What This Means (2025 FDD)
According to Cicis's 2025 Franchise Disclosure Document, a franchisee has five days to cure a failure to pay monies owed to Cicis, its affiliates, or designated suppliers. This applies when the payments are due under the Franchise Agreement or any other agreement, including development or franchise agreements for any type of facility. The cure period begins after Cicis provides notice of the failure to pay.
This short cure period underscores the importance of maintaining timely payments to Cicis and its related entities. Failure to remit payments within this timeframe can lead to further action by Cicis, potentially including termination of the franchise agreement. Franchisees should ensure they have systems in place to manage and track payments accurately to avoid such defaults.
Compared to other franchise systems, a five-day cure period is relatively short. Some franchisors may provide longer cure periods, allowing franchisees more time to address payment issues. The brevity of Cicis's cure period highlights the need for franchisees to prioritize their financial obligations to the franchisor to maintain compliance with the franchise agreement.