What is the interest rate charged on unpaid balances for Precision Door Service?

Question

Accepted Answer

| TYPE OF FEE                                                        | AMOUNT                                                                                                                                                                                                                                                                | DUE DATE                           | REMARKS                                                                                                                                                                                                                                                           |
|--------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  |  |  | and for each Franchise Agreement transferred at the same time. |
| Training Fee as part of Buyer Commitment Agreement1 | \$14,900 | Prior to attending training. | This fee is payable only in the event of a transfer where you and your transferee buyer request that the transferee buyer attend training prior to the closing on the sale of your Business and is in addition to all other transfer requirements. |
| Late Fees1 | \$10 per day | On demand | Applies to fees that are overdue. |
| (Franchise |  |  |  |
| Agreement) |  |  |  |
| Dishonored Check or ACH Draft1 | \$50 | On demand | You must pay us for each check returned or ACH draft refused by your financial institution for insufficient funds in your account. |
| Interest1 | 12% on unpaid balances | On demand | Payable on all overdue amounts. The twelve percent (12%) charge is calculated as a per annum rate but may be collected on demand, including weekly or monthly through automatic bank draft. |

Source: Item 6 — OTHER FEES (FDD pages 28–36)

What is the interest rate charged on unpaid balances for Precision Door Service?

Answer from 2025 FDD Document

What This Means (2025 FDD)

TYPE OF FEE	AMOUNT	DUE DATE	REMARKS
			and for each Franchise Agreement transferred at the same time.
Training Fee as part of Buyer Commitment Agreement1	$14,900	Prior to attending training.	This fee is payable only in the event of a transfer where you and your transferee buyer request that the transferee buyer attend training prior to the closing on the sale of your Business and is in addition to all other transfer requirements.
Late Fees1	$10 per day	On demand	Applies to fees that are overdue.
(Franchise
Agreement)
Dishonored Check or ACH Draft1	$50	On demand	You must pay us for each check returned or ACH draft refused by your financial institution for insufficient funds in your account.
Interest1	12% on unpaid balances	On demand	Payable on all overdue amounts. The twelve percent (12%) charge is calculated as a per annum rate but may be collected on demand, including weekly or monthly through automatic bank draft.