factual
When is the late fee due to Crown Gold Exchange?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| $100 plus interest on | On demand | We may charge a late fee if you fail to | |
| the unpaid amount at | make a required payment when due. | ||
| a rate equal to 18% | |||
| per year (or, if such | |||
| payment exceeds the | |||
| maximum allowed | |||
| by law, then interest | |||
| at the highest rate | |||
| allowed by law) | |||
| $30 (or, if such | |||
| amount exceeds the | |||
| maximum allowed | |||
| by law, then the | |||
| maximum allowed | |||
| by law) |
Source: Item 6 — OTHER FEES (FDD pages 10–12)
What This Means (2024 FDD)
According to Crown Gold Exchange's 2024 Franchise Disclosure Document, a late fee may be charged if a franchisee fails to make a required payment when it is due. The late fee consists of $100 plus interest on the unpaid amount. The interest rate is 18% per year, unless that amount exceeds the maximum allowed by law, in which case the interest rate will be the highest rate allowed by law. Additionally, a $30 fee may be charged, or if that amount exceeds the maximum allowed by law, then the maximum allowed by law will be charged. This late fee is due on demand.
Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only.
It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.