What schedule contains the automatic bank draft authorization for Ledgers?
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 |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers's 2025 Franchise Disclosure Document, the Automatic Bank Draft Authorization form is found in Schedule 2. This schedule is part of the franchise agreement and requires franchisees to authorize Loyalty Business Services LLC to initiate entries to their checking or savings accounts for payments related to the franchise agreement.
The form included in the schedule requires the franchisee to provide their bank name, address, routing number, and account number. By signing the form, the franchisee authorizes Loyalty Business Services LLC to make necessary adjustments for any transactions credited in error.
The authorization remains in effect until the franchisee provides written notice to cancel it, allowing Loyalty Business Services LLC a reasonable opportunity to act on the instructions. The franchisee can stop payment of any entry by notifying their financial institution at least three days before the scheduled charge. Additionally, the franchisee has the right to have an erroneous charge immediately credited to their account within specific timeframes: up to fifteen days following the issuance of their statement or up to sixty days after the deposit, whichever occurs first.