When is the Payment Non-Compliance fee due for a Deck Medic franchise?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| Payment Non-Compliance | $150 per occurrence | 14 days of invoice | Payable for failure to comply with payment obligations under Franchise Agreement. |
Source: Item 6 — OTHER FEES (FDD pages 11–15)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, the Payment Non-Compliance fee is due 14 days from the date of the invoice. This fee, set at $150 per occurrence, is charged if a franchisee fails to meet their payment obligations as outlined in the Franchise Agreement.
This means that if a Deck Medic franchisee misses a payment deadline or fails to comply with the payment terms specified in their agreement, they will be invoiced for $150. They then have a 14-day window to remit this fee. Failing to pay within this timeframe could potentially lead to further penalties or consequences as defined in the Franchise Agreement.
Prospective Deck Medic franchisees should carefully review the payment terms and obligations detailed in the Franchise Agreement to avoid incurring this fee. Understanding the specific payment schedule, acceptable payment methods, and any grace periods is crucial. It would also be wise to inquire about any potential leniency or appeal processes in case of unforeseen circumstances that might lead to a payment delay.