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TN · SERVICE-AGMT · Updated July 2026 · Free

Tennessee Service Agreement

Review Status: PendingAuthor: Editorial TeamMethodology: Statutory Verification

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Tennessee at a glance: Usury Cap: 10% default, commercial agreements are exempt · Governing Law: Tennessee Code Title 47

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Overview

Service Agreements in Tennessee

Tennessee service agreements are governed by Title 47 of the Tennessee Code. Late fees must comply with the 10% statutory cap unless written (Tenn. Code § 47-14-103).
Key Facts

Tennessee Service Agreement — Quick Reference

RequirementTennessee Rule
Usury Cap10% default, commercial agreements are exempt
Governing LawTennessee Code Title 47
Legal Requirements

Tennessee Legal Requirements

  • Late fees exceeding 10% per year must be in writing to be enforceable.
Governing Laws

Tennessee Governing Laws

Tenn. Code § 47-14-103
Legal Rate of Interest
Defines interest limits on written contracts.

Read the full text of these laws at Cornell Law School's Tennessee legal resources or your state legislature's official website.

Questions & Answers

Tennessee Service Agreement — Frequently Asked Questions

What is the default contract interest rate in Tennessee?

The default rate is 10% per annum.