Within how many days after the invoice date is payment due for Even Hotels franchisees?
Even_Hotels Franchise · 2025 FDDAnswer from 2025 FDD Document
IHG shall invoice Hotel each month for the fees associated with the Next-Gen Payments Solution set forth on the cover page of this Agreement.
For most Transactions, the NGP Transaction Fee will be collected by merchant service provider Fiserv as part of the settlement reconciliation.
Hotel shall pay the fees invoiced for payment within thirty (30) days after the date of the applicable invoice.
Source: Item 23 — RECEIPTS (FDD pages 99–438)
What This Means (2025 FDD)
According to Even Hotels' 2025 Franchise Disclosure Document, franchisees are required to make payments within thirty days of the invoice date. Specifically, this applies to fees associated with the Next-Gen Payments Solution. The FDD states that IHG (InterContinental Hotels Group) will invoice the franchisee monthly for these fees.
This thirty-day payment window is a standard practice in many franchise systems, allowing franchisees some time to manage their cash flow. However, it's crucial for prospective Even Hotels franchisees to factor this payment schedule into their financial planning to avoid late payment penalties.
If a franchisee fails to make timely payments, interest will accrue on the outstanding balance. The interest rate is the lesser of 1.5% per month or the maximum rate allowed by law. Furthermore, Even Hotels (through IHG) has the right to suspend the franchisee's access to and use of the Next-Gen Payments Solution in the event of a payment default. The franchisee will also be responsible for covering all collection costs and attorney fees that IHG incurs while trying to recover any overdue amounts.
In addition to the standard fees, franchisees are also responsible for all taxes resulting from the Next-Gen Payments Solution. If IHG is required to pay any of these taxes, penalties, or interest, they will invoice the franchisee, who must then pay the invoiced amount within thirty days.