What is the timeframe for Crave Cookies Franchising to provide notice of breach under subsection (b)?
Crave_Cookies Franchise · 2025 FDDAnswer from 2025 FDD Document
- (b) Subject to 10-Day Cure Period. Crave Cookies Franchising may terminate this Agreement if Franchisee does not make any payment to Crave Cookies Franchising when due, or if Franchisee does not have sufficient funds in its account when Crave Cookies Franchising attempts an electronic funds withdrawal, and Franchisee fails to cure such non-payment within 10 days after Crave Cookies Franchising gives notice to Franchisee of such breach.
Source: Item 22 — CONTRACTS (FDD page 47)
What This Means (2025 FDD)
According to Crave Cookies' 2025 Franchise Disclosure Document, under subsection (b), Crave Cookies Franchising may terminate the agreement if the franchisee fails to make payments when due or lacks sufficient funds for electronic withdrawals. In such cases, Crave Cookies Franchising will provide a 10-day notice to the franchisee to cure the non-payment.
This 10-day cure period means that a franchisee has a limited time to rectify any payment issues after receiving notice from Crave Cookies Franchising. Failure to cure the breach within this timeframe can lead to the termination of the franchise agreement. This is a fairly standard clause in franchise agreements, as consistent and timely payments are crucial for the financial health of both the franchisee and the franchisor.
Prospective Crave Cookies franchisees should ensure they have a robust financial management system in place to avoid late payments or insufficient funds. Understanding the implications of this clause and maintaining open communication with Crave Cookies Franchising regarding any potential payment issues can help prevent termination of the franchise agreement.