When are Dryer Vent Squad collection fees due?
Dryer_Vent_Squad Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of (Note 1) | Amount | Due Date | Remarks |
|---|---|---|---|
| including audit, legal, travel and reasonable accommodations. | |||
| Quality Assurance Audit | Actual costs incurred by us | As invoiced | Payable if we engage a third party to perform periodic quality assurance audits, including mystery shopper programs. |
| Collections | Actual fees, costs, and expenses | On demand | For costs and expenses incurred by us in collecting fees due to us, and/or to enforce the terms of the franchise agreement or a termination of the franchise agreement. Includes costs and expenses of re-inspections required by quality assurance audit. |
Source: Item 6 — OTHER FEES (FDD pages 16–21)
What This Means (2024 FDD)
According to the 2024 Dryer Vent Squad Franchise Disclosure Document, collection fees are due 'on demand'. These fees cover the costs and expenses Dryer Vent Squad incurs while collecting fees owed by the franchisee or enforcing the franchise agreement, including costs related to re-inspections required by quality assurance audits.
This means that if a Dryer Vent Squad franchisee fails to pay fees on time or violates the franchise agreement, they will be responsible for covering Dryer Vent Squad's expenses in pursuing collection or enforcement actions. These expenses can include legal fees, audit costs, travel, and accommodations. The franchisee is expected to pay these collection fees when Dryer Vent Squad demands payment.
It is important for prospective Dryer Vent Squad franchisees to understand that 'on demand' means payment is expected immediately upon request. Failure to promptly pay these fees could lead to further penalties or legal action. Franchisees should maintain accurate financial records and ensure timely payments to avoid incurring collection fees.