For Even Hotels, what is the timeframe after the actual transaction date in which FreedomPay has no liability or obligation for transactions not submitted or reported 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, FreedomPay has no liability or obligation to Even Hotels for transactions not submitted or reported for settlement within sixty (60) days after the actual date of the transaction.
This means that Even Hotels franchisees must ensure that all transactions are submitted or reported to FreedomPay for settlement within this 60-day window. If transactions are submitted or reported after this period, FreedomPay will attempt to settle them if the data is available. However, FreedomPay is not liable if it cannot settle these transactions.
This policy places a responsibility on the franchisee to maintain diligent record-keeping and timely submission of transaction data to FreedomPay. Failure to do so could result in the franchisee bearing the loss for unsettled transactions, highlighting the importance of efficient transaction management and adherence to the stipulated timeframe.