What is the Late Payment Fee for Crepe De Licious?
Crepe_De_Licious Franchise · 2025 FDDAnswer from 2025 FDD Document
| Name of Fee(1) | Amount | Due Date | Remarks |
|---|---|---|---|
| Late Payment Fee | $100 per occurrence, plus the lesser of the daily equivalent of 15% per year simple interest or the highest rate allowed by law | As incurred | Payable if any payment due to us or our affiliates is not made by the due date. Interest accrues from the original due date until payment is received in full. |
Source: Item 6 — OTHER FEES (FDD pages 12–18)
What This Means (2025 FDD)
According to Crepe De Licious's 2025 Franchise Disclosure Document, a franchisee may incur a late payment fee if any payment due to Crepe De Licious or its affiliates is not made by the due date. The late fee is $100 per occurrence.
In addition to the $100 fee, interest accrues from the original due date until payment is received in full. The interest charged will be the lesser of the daily equivalent of 15% per year simple interest or the highest rate allowed by law.
This means that if a franchisee is late on a payment, they will be charged a $100 fee immediately. They will also accrue interest on the outstanding balance until it is paid. The interest rate will be the lower of 15% per year or the maximum rate legally permitted. Franchisees should ensure all payments are made on time to avoid these charges.