What is the payment timeline for the Standard Default Fee charged by Face Foundrie?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
cial Bar. This Technology Fee may change from time to time. If Franchisor does not directly provide these services, you will be required to sign a separate agreement with Franchisor's designated provider of these services (which
may be an affiliate of Franchisor). Payment of the Technology Fee shall be made at the same time as the Royalty Fee.
(c) Default Fees.
- a. Standard Default Fee. In addition to Franchisor's other rights under the law and this Agreement, if Franchisee breaches or defaults on certain provisions of this Agreement that is not otherwise addressed by another fee in this section, and Franchisee fails to cure the breach or default during the cure period, Franchisee will immediately on notice from Franchisor pay to Franchisor a fee of Five Hundred Dollars ($500) per default per cure period that passes until the breach or default is
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the Standard Default Fee is $500 per default per cure period. This fee is imposed if a franchisee breaches the Franchise Agreement and fails to correct the breach within the given cure period. These breaches are considered material and are outlined in Section 14.03 of the agreement.
For a prospective Face Foundrie franchisee, this means that if they violate the terms of the Franchise Agreement, such as those listed in Section 14.03, and do not fix the issue within the allotted time, they will have to pay Face Foundrie $500 for each cure period that passes until the breach is resolved. This fee is intended to cover Face Foundrie's expenses related to addressing the default.
The FDD specifies that the franchisee must pay the Standard Default Fee immediately upon receiving notice from Face Foundrie. This immediate payment requirement underscores the importance of adhering to the Franchise Agreement and promptly addressing any breaches to avoid incurring additional fees. Franchisees should be aware of the conditions that could trigger this fee and take steps to ensure compliance with the agreement to avoid these costs.
This fee is in addition to any other rights Face Foundrie has under the law or the Franchise Agreement. It is important for potential franchisees to carefully review Section 14.03 of the Franchise Agreement to understand what actions or inactions could lead to the assessment of this fee.