What is the required action by a Crave Cookies franchisee to avoid termination after receiving notice of non-payment?

According to Crave Cookies' 2025 Franchise Disclosure Document, a franchisee must make any past due payment to Crave Cookies within 10 days after receiving notice of non-payment from Crave Cookies Franchising to avoid termination of the franchise agreement. This includes situations where the franchisee does not have sufficient funds in its account when Crave Cookies attempts an electronic funds withdrawal.

This 10-day cure period is a critical aspect of the franchise agreement, providing a limited window for franchisees to rectify payment defaults. Failure to cure within this timeframe can result in the termination of the agreement by Crave Cookies. Franchisees should ensure they have systems in place to monitor their payment obligations and maintain sufficient funds to cover electronic withdrawals to avoid such defaults.

It is important to note that this cure period applies specifically to non-payment situations. Other breaches of the franchise agreement may be subject to different cure periods, such as 24 hours or 30 days, or may not be curable at all, leading to immediate termination. Therefore, franchisees must understand all the terms and conditions of the franchise agreement to ensure compliance and avoid potential defaults.