What is the due date for the Cordova Payment Non-Compliance fee?
Cordova Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee (Note 1) | Amount | Due Date | |
|---|---|---|---|
| Payment Non-Compliance | $150 per occurrence | 14 days of invoice | Payable for failure to timely pay, when due, a fee or payment due to us under the Franchise Agreement, plus interest, costs and legal fees. |
Source: Item 6 — OTHER FEES (FDD pages 11–15)
What This Means (2025 FDD)
According to Cordova's 2025 Franchise Disclosure Document, the Payment Non-Compliance fee is due 14 days from the date of the invoice. This fee, set at $150 per occurrence, is charged if a franchisee fails to make payments to Cordova on time as required by the Franchise Agreement.
For a prospective Cordova franchisee, this means that maintaining timely payments is crucial to avoid incurring additional fees. The Payment Non-Compliance fee adds to the financial burden of late payments, as it is levied in addition to any interest, costs, and legal fees that may also be applicable due to the payment failure.
It is important for franchisees to establish reliable payment systems and ensure sufficient funds are available to cover all fees and payments due to Cordova. Franchisees should also carefully review the Franchise Agreement to fully understand all payment obligations and deadlines to avoid any surprises and potential non-compliance fees.