What is the deadline for Even Hotels to submit transactions to FreedomPay for settlement?
Even_Hotels Franchise · 2025 FDDAnswer from 2025 FDD Document
Hotel agrees that FreedomPay shall have no liability or obligation to Hotel for any Transactions not submitted or reported to FreedomPay for settlement within sixty (60) days after the actual date of the Transaction.
For Transactions submitted or reported after such time limit, FreedomPay will attempt to settle such Transactions if the data is available, but FreedomPay will have no liability to Hotel if it is unable to settle such Transactions.
Source: Item 23 — RECEIPTS (FDD pages 99–438)
What This Means (2025 FDD)
According to Even Hotels' 2025 Franchise Disclosure Document, an Even Hotels franchisee must submit or report transactions to FreedomPay for settlement within sixty (60) days after the actual date of the transaction. If a franchisee submits transactions after this 60-day period, FreedomPay may attempt to settle them if the data is available. However, FreedomPay assumes no liability if it cannot settle these late transactions.
This requirement means that Even Hotels franchisees need to have efficient systems in place for processing and submitting transaction data promptly. Delays in submitting transactions could result in FreedomPay being unable to settle them, potentially leading to a loss of revenue for the franchisee. Therefore, franchisees must ensure their staff are trained to handle transactions correctly and submit them within the specified timeframe.
It is important for prospective Even Hotels franchisees to understand the implications of this settlement deadline and to factor it into their operational procedures. They should also communicate with FreedomPay and IHG (InterContinental Hotels Group) to clarify any uncertainties regarding the transaction submission process. By adhering to this requirement, franchisees can minimize the risk of settlement issues and maintain smooth financial operations.