When are the License Fees and MAP Fees due to Precision Door Service each month?
Precision_Door_Service Franchise · 2025 FDDAnswer from 2025 FDD Document
- D.
Manner of Payment; Electronic Transfer of Funds.
All payments of the License Fees and MAP Fees are due to us by the 5th of each month for the month just ended.
Source: Item 22 — Contracts (FDD pages 91–92)
What This Means (2025 FDD)
According to Precision Door Service's 2025 Franchise Disclosure Document, both License Fees and MAP Fees are due by the 5th of each month. These payments cover the previous month's activities. Franchisees are required to authorize electronic transfers from their bank accounts to ensure timely payments.
Missing the payment deadline results in a late payment fee of $10 per day, in addition to accruing interest at the highest applicable legal rate for open account business credit in the franchisee's state, but not exceeding 12% per annum. Furthermore, a $50 fee is charged for any returned check or refused ACH draft due to insufficient funds.
It is important for prospective Precision Door Service franchisees to maintain sufficient funds in their accounts to cover these fees and to submit accurate gross sales reports on time. Failure to do so may lead to additional withdrawals by Precision Door Service based on the last reported gross sales, with the franchisee responsible for any discrepancies upon submission of the correct report.