Michigan Service Agreement PDF
Michigan at a glance: Default Interest: 5% per year (MCL § 438.31) · Maximum Written: 7% per year (exemptions for B2B) · Governing Law: Michigan Compiled Laws Chapter 438
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Service Agreements in Michigan
Michigan service agreements are governed by Title 438 of the Michigan Compiled Laws. Late fees must comply with the statutory limit of 5% unless written (MCL § 438.31).
Michigan Service Agreement — Quick Reference
| Requirement | Michigan Rule |
|---|---|
| Default Interest | 5% per year (MCL § 438.31) |
| Maximum Written | 7% per year (exemptions for B2B) |
| Governing Law | Michigan Compiled Laws Chapter 438 |
Michigan Legal Requirements
- Late fees exceeding 5% per year must be in writing to be enforceable.
Michigan Governing Laws
Read the full text of these laws at Cornell Law School's Michigan legal resources or your state legislature's official website.