What interest rate will Dryject charge on overdue fees?
Dryject Franchise · 2025 FDDAnswer from 2025 FDD Document
- (e) In addition to any other remedies We may have, as permitted by law, if You fail to pay any fees when due to Us or any of Our affiliates, interest shall be payable on such fees from the date such payment was due at the rate of eighteen percent (18%) per year or the maximum contract rate of interest permitted by governing law, whichever is less.
In addition, You shall pay any and all of Our expenses in collecting overdue payments from You, including attorneys' fees and the fees of any collection agencies hired by Us.
The foregoing shall be in addition to any other remedy We may possess, as permitted by law.
You acknowledge that this Subsection shall not constitute agreement by Us to accept such payments after they are due, or a commitment by Us to extend credit to, or otherwise finance Your operation of the Franchised Business.
Source: Item 23 — RECEIPT (FDD pages 50–68)
What This Means (2025 FDD)
According to Dryject's 2025 Franchise Disclosure Document, if a franchisee fails to pay any fees when due to Dryject or its affiliates, interest will be charged on the overdue fees. The interest rate is set at eighteen percent (18%) per year, or the maximum contract rate of interest permitted by governing law, whichever is less.
In addition to the interest charges, the franchisee is responsible for covering any expenses Dryject incurs while collecting the overdue payments. These expenses include attorneys' fees and the fees of any collection agencies that Dryject hires to recover the outstanding amounts.
It is important to note that Dryject's acceptance of late payments or partial payments does not constitute a waiver of their right to the full amount due. Furthermore, it does not obligate Dryject to extend credit or finance the franchisee's business operations.