Does the Ledgers Franchise Agreement include a schedule that contains State Addenda?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Schedule 1 | Territory |
|---|---|
| Schedule 2 | Automatic Bank Draft Authorization |
| Schedule 3 | Telephone Number Assignment |
| Schedule 4 | Lease Rider |
| Schedule 5 | Release |
| Schedule 6 | State Addenda to the Franchise Agreement |
EXHIBIT A
STATE ADDENDA TO THE DISCLOSURE DOCUMENT AND FRANCHISE AGREEMENT
The following modifications are to Loyalty Business Services LLC d/b/a Ledgers Franchise Disclosure Document and may supersede, to the extent then required by valid applicable state law, certain portions of the Franchise Agreement dated The provisions of this State Law Addendum to Franchise Disclosure Document and Franchise Agreement ("State Addendum") apply only to those persons residing or operating a Ledgers Franchised Business in the following states: Michigan, California, Illinois, Indiana, Maryland, Minnesota, New York, Rhode Island, Virginia, or Wisconsin.
CALIFORNIA
As to franchises governed by the California Franchise Investment Law, if any of the terms of the Disclosure Document are inconsistent with the terms below, the terms below control.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, the Franchise Agreement does include a schedule for State Addenda.
Specifically, Schedule 6 of the Ledgers Franchise Agreement is designated for "State Addenda to the Franchise Agreement." This indicates that the agreement is designed to incorporate state-specific modifications or addenda as required by applicable state laws.
Additionally, Exhibit A of the FDD includes "STATE ADDENDA TO THE DISCLOSURE DOCUMENT AND FRANCHISE AGREEMENT" which lists specific states (Michigan, California, Illinois, Indiana, Maryland, Minnesota, New York, Rhode Island, Virginia, or Wisconsin) where the addenda apply. The California addendum example notes that if any terms of the Disclosure Document are inconsistent with California law, the terms of the addendum will control. This ensures that the Ledgers franchise adheres to the specific legal requirements of each state where it operates, providing franchisees with necessary legal protections and modifications to the standard agreement.
Prospective franchisees should carefully review Schedule 6 and Exhibit A, along with any addenda applicable to their specific state, to understand their rights and obligations under the Ledgers Franchise Agreement, as these addenda can modify the standard terms of the agreement to comply with local laws.