When does interest begin accruing on overdue amounts for a Clean Your Dirty Face franchise?
Clean_Your_Dirty_Face Franchise · 2025 FDDAnswer from 2025 FDD Document
| NAME OF FEE 1 | AMOUNT | DUE DATE | REMARKS 2 |
|---|---|---|---|
| Interest | Lower of 1.5% per month or highest commercial interest rate allowed by law | As incurred | Due on all overdue amounts and accruing as of the original due date. |
Source: Item 6 — OTHER FEES (FDD pages 11–16)
What This Means (2025 FDD)
According to Clean Your Dirty Face's 2025 Franchise Disclosure Document, interest accrues on all overdue amounts as of the original due date. The interest rate is the lower of 1.5% per month or the highest commercial interest rate allowed by law. This interest applies to any overdue amounts owed to Clean Your Dirty Face.
This means that if a franchisee fails to pay fees or other amounts by the specified due date, interest charges will immediately begin to accumulate. The franchisee will be responsible for paying this interest in addition to the original amount owed. It is important for prospective franchisees to understand this policy to avoid incurring additional costs.
Franchisees should ensure they have a clear understanding of all payment due dates and maintain sufficient funds to cover all obligations to Clean Your Dirty Face. Setting up reminders or automatic payments may help prevent late payments and the accrual of interest. Franchisees should also clarify with Clean Your Dirty Face any uncertainties regarding payment schedules or acceptable payment methods to avoid any unintentional delays or defaults.