When is the Late Fee due for a Ledgers franchise?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Late Fee | Lesser of 1.5% per month or the highest rate allowable by law of the state where franchised is located | As incurred. | Applies to amounts owed to us that are five (5) or more days past due. |
Source: Item 6 — OTHER FEES (FDD pages 17–20)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, the Late Fee is incurred on amounts owed to Ledgers that are five or more days past due. The fee is the lesser of 1.5% per month or the highest rate allowable by law in the state where the franchise is located.
This means that if a Ledgers franchisee fails to pay fees on time, they will be charged a late fee. The specific amount of the late fee will depend on the outstanding balance and the applicable legal rate in their state. It is important for prospective franchisees to understand this policy and ensure they have sufficient funds to cover all fees in a timely manner to avoid incurring these additional charges.
Franchisees should be aware that consistent late payments could potentially lead to further action from Ledgers, as outlined in the franchise agreement. Therefore, maintaining good financial management practices is crucial for a successful franchise operation.