Where can I find information about late fees associated with a Monicals Pizza franchise?
Monicals_Pizza Franchise · 2025 FDDAnswer from 2025 FDD Document
17.1.6 pay all sums owing to Franchisor and any Affiliate. In the event of termination for any default of Franchisee, such sums shall include, but not be limited to, all damages, costs and expenses, including reasonable attorneys' fees, with respect to litigation, arbitration, appellate or bankruptcy proceedings, unpaid Royalty Fees, loss of future royalty Fee payments incurred by Franchisor as a result of any early termination of this Agreement, and any other amounts due to Franchisor or any Affiliate;
Source: Item 23 — RECEIPTS (FDD pages 46–257)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, specific details regarding late fees for Monicals Pizza franchises are not explicitly outlined in the provided excerpts. While Item 23 generally discusses receipts and obligations upon termination, it does not delve into the specifics of late fee amounts or how they are calculated.
However, the document does mention the franchisee's obligation to pay all sums owing to the franchisor and any affiliates, especially in the event of termination due to default. This includes unpaid Royalty Fees and other amounts due. While not explicitly stated as 'late fees,' these unpaid amounts could potentially accrue interest or penalties, which would function similarly to late fees. The FDD also states that the franchisee is responsible for attorneys' fees and costs associated with litigation or bankruptcy proceedings resulting from any default.
To fully understand the late fee policy, a prospective Monicals Pizza franchisee should ask the franchisor for specific details on how late payments are handled, including any applicable interest rates, penalties, or grace periods. It would also be prudent to clarify under what circumstances these fees are applied and if there are any opportunities to appeal or negotiate them.