Does the Learningrx agreement specify if interest is awarded on unpaid amounts from the date due?

According to the 2025 Learningrx Franchise Disclosure Document, franchisees must pay interest on late payments. Specifically, Learningrx charges interest at a rate of one percent (1%) per month, or the maximum interest rate allowed by applicable law, whichever is less. This interest applies to any late payments due under the Franchise Agreement or for any payments returned due to insufficient funds.

In addition to interest on late payments, Learningrx franchisees are responsible for covering any damages, expenses through appeal, collection costs, and reasonable attorneys' fees that Learningrx incurs due to the franchisee's failure to make required payments or because of payments returned for insufficient funds. Franchisees may also be subject to a fine as outlined in the Operations Manual.

This policy ensures that Learningrx is compensated for the financial losses and administrative burdens associated with late or failed payments. It also incentivizes franchisees to maintain timely and sufficient payments to avoid additional charges and potential legal ramifications. Prospective franchisees should be aware of these financial obligations and factor them into their business planning to ensure they can meet their payment responsibilities under the franchise agreement.