What information is required to be included in the 'trade in section' when making a payment to Coffee News US?
Coffee_News Franchise · 2025 FDDAnswer from 2025 FDD Document
nd correct. | (the ed the foregoing Schedule B as | | My Commission expires: | Notary Public |
SCHEDULE C PROMISSORY NOTE (An alternative option to SDHCEDULE B)
| $ | , 20 | |
|---|---|---|
| 04401 | [trade in section pay to the order of Coffee News US [1] (the "Holder"), the sum of | address of the Franchisee] doing business name of his business] (the "Debtor") SA, Inc. at 120 Linden St., Bangor, Maine f Dollars sipal") and such other finance charges, in |
| 1. | The payments shall be made as follows | : |
| Principal Amount Financed: Duration of Loan: Start Date of Loan: | $ (months) | |
| Monthly Payment ($25.00/week for each franchised unit): | $ | |
| Total Number of Payments: Principal Amount to be paid: Finance Charges to be paid: Total Cost of the loan: | $ $ $ | |
| month descri contin | ning on, 20 [ n until he/she have paid all of the princ ibed above that he/she may owe under t | on the day of each cal |
Source: Item 23 — Receipts (FDD pages 36–118)
What This Means (2025 FDD)
According to Coffee News' 2025 Franchise Disclosure Document, the 'trade in section' when making a payment to Coffee News US requires specific information to be included. This includes the date, the sum of dollars, the address of the franchisee, the doing business name of his business, and SA, Inc. at 120 Linden St., Bangor, Maine 04401.
Additionally, the document outlines the principal amount financed, the duration of the loan in months, and the start date of the loan. It also specifies the monthly payment amount, calculated at $25.00 per week for each franchised unit. The total number of payments, the principal amount to be paid, the finance charges, and the total cost of the loan must also be included.
Furthermore, the payment schedule requires a description of the monthly payments, including the day of each calendar month the debtor will make payments, continuing until all principal, interest, and other charges are paid. The document also mentions a "maturity date," after which monies can be paid without penalty.