Does the 360 Painting Franchise Agreement include an exhibit related to a guaranty agreement?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
- EXHIBIT C-1 MISCELLANEOUS INFORMATION; TERRITORY DEFINED
- EXHIBIT C-2 PERSONAL COVENANTS
- EXHIBIT C-3 INTERNET WEB SITES AND LISTINGS AGREEMENT
- EXHIBIT C-4 TELEPHONE LISTING AGREEMENT
EXHIBIT C-5 FRANCHISEE INFORMATION
EXHIBIT C-6 GUARANTY AGREEMENT
EXHIBIT C-7 GENERAL RELEASE
EXHIBIT C-8 ACH AUTHORIZATION
EXHIBIT C-9 COPY OF SIGNED RECEIPT TO FRANCHISE DISCLOSURE DOCUMENT
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to the 2025 360 Painting Franchise Disclosure Document, the Franchise Agreement includes an exhibit specifically for a Guaranty Agreement.
Exhibit C-6 of the 360 Painting Franchise Agreement is designated as the Guaranty Agreement. Additionally, there is a separate document titled "Guaranty Agreement" that references the Franchise Agreement and outlines the guarantor's responsibilities. This agreement ensures that the franchisee will fulfill all obligations set forth in the Franchise Agreement.
The Guaranty Agreement stipulates that the guarantor personally, absolutely, and unconditionally guarantees the franchisee's punctuality in paying and performing every requirement outlined in the Franchise Agreement. The guarantor also waives any requirement for the franchisor to first pursue action against the franchisee before enforcing the guaranty. This agreement is a guarantee of payment and performance, not merely of collection, and remains in effect for the term of the Franchise Agreement and any extensions or renewals, until all obligations are satisfied.