What happens if the due date for a payment to Cream falls on a national holiday or weekend?
Cream Franchise · 2025 FDDAnswer from 2025 FDD Document
You must make all payments due under this Agreement in the manner we designate from time to time. We may also direct you to make some or all of the payments under this Agreement to our designee or affiliate. You authorize us to debit your checking, savings, or other account automatically for all amounts due to us or our affiliates (the "EFT Authorization"). You agree to sign and deliver to us any documents we require for such EFT Authorization. Such EFT Authorization shall remain in full force and effect during the Term. We will debit the account you designate for these amounts on their due dates (or the subsequent business day if the due date is a national holiday or a weekend day). You agree to ensure that funds are available in your designated account to cover our withdrawals. If the amounts that we debit from your account are greater than the amounts you actually owe us, we will credit the excess against the amounts we otherwise would debit from your business account on the next payment due date.
Source: Item 23 — RECEIPTS (FDD pages 61–192)
What This Means (2025 FDD)
According to Cream's 2025 Franchise Disclosure Document, payments due to Cream can be made via electronic funds transfer (EFT). Cream is authorized to debit the franchisee's checking, savings, or other account automatically for all amounts due to them or their affiliates.
Cream will debit the account designated by the franchisee for these amounts on their due dates. However, if the due date falls on a national holiday or a weekend day, Cream will debit the account on the subsequent business day.
The franchisee is responsible for ensuring that sufficient funds are available in their designated account to cover Cream's withdrawals. If Cream debits an amount greater than what is owed, the excess will be credited against the amounts debited from the business account on the next payment due date.