When is the non-compliance cure costs and fee due to Crown Gold Exchange?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Non-compliance cure costs and fee | Our out-of-pocket costs and internal cost allocation, plus 10% | When billed | We may cure your non-compliance on your behalf (for example, if you do not have required insurance, we may purchase insurance for you), and you will owe our costs plus a 10% administrative fee. |
Source: Item 6 — OTHER FEES (FDD pages 10–12)
What This Means (2024 FDD)
According to Crown Gold Exchange's 2024 Franchise Disclosure Document, the non-compliance cure costs and fee is due when billed. If a franchisee is non-compliant, Crown Gold Exchange may choose to resolve the issue on the franchisee's behalf. For example, if a franchisee does not have the required insurance, Crown Gold Exchange may purchase it for them.
The non-compliance cure costs and fee is the amount Crown Gold Exchange spends to cure the non-compliance, in addition to an administrative fee. The administrative fee is 10% of Crown Gold Exchange's out-of-pocket costs and internal cost allocation.
Because the costs can vary significantly depending on the nature of the non-compliance, prospective franchisees should ensure they understand all compliance requirements and maintain open communication with Crown Gold Exchange to avoid unexpected fees.