Does the All Team agreement specify the state where the 'Guaranty Agreement' is executed?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
The terms of this Guaranty and Assumption of Obligations shall be governed by and construed according to the laws of the State of Florida. ATFC may institute any action arising out of or relating to this Guaranty and Assumption of Obligations in any state or federal court of general jurisdiction in the State of Florida, and guarantors irrevocably submit to their jurisdiction and waive any objection to the application of Florida law or to the jurisdiction, governing law or venue in those Florida courts.
IN WITNESS WHEREOF, each of the undersigned has hereunto affixed their signatures on the same day and year as the Agreement was executed.
Source: Item 22 — CONTRACTS (FDD pages 33–34)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, the Guaranty and Assumption of Obligations agreement does not explicitly state the location or state where it must be executed. However, the terms of the Guaranty and Assumption of Obligations are governed by and construed according to the laws of the State of Florida. All Team may institute any action arising out of or relating to this Guaranty and Assumption of Obligations in any state or federal court of general jurisdiction in the State of Florida. Guarantors irrevocably submit to their jurisdiction and waive any objection to the application of Florida law or to the jurisdiction, governing law or venue in those Florida courts. The agreement is signed on the same day and year as the Franchise Agreement.
This means that while the physical signing location isn't specified, the legal framework and jurisdiction for the guaranty are firmly established in Florida. This is important for prospective franchisees and their guarantors to understand, as any legal disputes related to the guaranty will likely be handled in Florida courts under Florida law.
Prospective franchisees should consult with a legal professional to fully understand the implications of the guaranty's Florida jurisdiction, especially if they or their guarantors are located outside of Florida. They should also inquire with All Team about any specific requirements or customary practices regarding the signing location of the Guaranty Agreement to ensure full compliance.