What is the cure period for non-payment of monies owed to Degree Wellness or its affiliates?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
- h. you do not pay when due any monies owed to us or our affiliates, and do not make such payment within ten (10) days after written notice is given to you (unless a longer cure period is otherwise required by applicable law, in which case such longer period shall apply);
Source: Item 23 — Receipts (FDD pages 66–257)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, a franchisee has ten days to cure non-payment of monies owed to Degree Wellness or its affiliates after receiving written notice. However, this cure period may be longer if required by applicable law. In such cases, the longer period will apply.
This means that if a Degree Wellness franchisee fails to pay any amount owed to the company or its affiliates, Degree Wellness must provide written notice of the non-payment. The franchisee then has ten days from the date of the notice to make the payment and correct the default. If the franchisee does not make the payment within this timeframe, Degree Wellness may have grounds to terminate the franchise agreement, subject to any longer cure periods mandated by law.
It is important for prospective Degree Wellness franchisees to understand the implications of this clause. Franchisees should ensure they have systems in place to track and manage payments to Degree Wellness and its affiliates to avoid falling into default. Furthermore, franchisees should be aware of any applicable state or local laws that may provide for a longer cure period, as those laws would supersede the ten-day period specified in the franchise agreement. Franchisees should consult with a legal professional to understand their rights and obligations under the franchise agreement and applicable laws.