What is the late payment fee that AT&T may charge Even Hotels franchisees?
Even_Hotels Franchise · 2025 FDDAnswer from 2025 FDD Document
AT&T may charge late payment fees at the lower of (a) 1.5% per month (18% per annum), or (b) the maximum rate allowed by law for overdue payments.
Source: Item 23 — RECEIPTS (FDD pages 99–438)
What This Means (2025 FDD)
According to Even Hotels' 2025 Franchise Disclosure Document, AT&T may charge Even Hotels franchisees a late payment fee. This fee will be the lower of either 1.5% per month, which equates to 18% per year, or the maximum rate legally allowed for overdue payments.
This means that if an Even Hotels franchisee is late on their payments to AT&T, they will incur a finance charge. The specific amount will depend on the outstanding balance and the prevailing legal limits on late fees. Franchisees should be aware of these potential charges and ensure timely payments to avoid them.
It is important for prospective Even Hotels franchisees to understand all payment terms and potential penalties associated with vendor agreements like the one with AT&T. Careful financial management and adherence to payment schedules are crucial for maintaining good standing and avoiding unnecessary expenses.