Is failing to remit payments when due considered a default under the Dryject franchise agreement?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
You shall be in default under this Agreement for failure to comply with any of the requirements imposed by the Agreement, or for failure to carry out the terms of this Agreement in good faith.
Such defaults include, but are not limited to:
- (i) A failure by You to remit any payments when due under this Agreement;
Source: Item 8 — BUSINESS RELATIONSHIP (FDD pages 68–229)
What This Means (2025 FDD)
According to the 2025 Dryject Franchise Disclosure Document, failing to remit payments when due is considered a default under the franchise agreement. The FDD specifies that franchisees must comply with all requirements of the agreement and carry out its terms in good faith.
Specifically, the agreement states that a failure to remit any payments when due constitutes a default. This means that if a Dryject franchisee misses a payment deadline, it is considered a breach of the franchise agreement.
Dryject can issue a notice of material breach if a franchisee fails to remit payments. If Dryject delivers two or more notices of material breach within a twelve-month period, whether or not the franchisee cures the breaches after notice, Dryject has the right to terminate the agreement. The termination is effective after the franchisee receives three days' written notice, or longer if required by law.