What is the cure period for a monetary default under the Marble Slab Creamery franchise agreement?
Marble_Slab_Creamery Franchise · 2025 FDDAnswer from 2025 FDD Document
- (a) Subject to Applicable Law to the contrary, this Agreement may be terminated by Franchisor in the event of any Default by Applicant of this Agreement, unless such Default is cured by Applicant within 5 days following written notice of the Default (in the case of a failure to pay money), or 20 days following written notice of the Default (in the case of any other Default); provided that in the case of a Default by Applicant (or its Affiliate) under any Franchise Agreement or other written agreement, the notice and cure provisions of the Franchise Agreement or other agreement shall control, and provided, further, however, that any Default described in Sections 8.1(b)(i), (ii), (iii) or (vi) below shall be deemed incurable.
Source: Item 23 — RECEIPT (FDD pages 101–346)
What This Means (2025 FDD)
According to the 2025 Marble Slab Creamery Franchise Disclosure Document, if a franchisee fails to pay money owed under the agreement, they have a 5-day cure period after receiving written notice of the default. However, this is subject to applicable law to the contrary.
It's important to note that if the default occurs under any Franchise Agreement or other written agreement, the notice and cure provisions of that specific agreement will take precedence. Additionally, certain defaults listed in Sections 8.1(b)(i), (ii), (iii), or (vi) are deemed incurable, meaning the franchisee would not have an opportunity to correct the issue.
This means that a Marble Slab Creamery franchisee needs to be aware of all payment deadlines and ensure timely payments to avoid default. They should also carefully review all related agreements to understand the specific cure provisions that may apply in different situations. Missing the cure period could lead to termination of the franchise agreement.