According to the Alloy surety bond, what is the name of the Attorney-in-Fact?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
On behalf of: | Alloy Personal Training, LLC | | | | | In favor of: | State of Illinois Attorney General | | | |
Provided, however, that this Continuation Certificate does not create a new obligation and is executed upon the express condition and provision that the Surety's liability under said bond and this and all Continuation Certificates issued in connection therewith shall not be cumulative and that said Surety's aggregate liability under said bond and this and all such Continuation Certificates on account of all defaults committed during the period (regardless of the number of years) said bond has been and shall be in force, shall not in any event exceed the amount of said bond as hereinbefore set forth.
Dated this 8th day of April, 2024
ARCH INSURANCE COMPANY
Anthony Basciano
, Attorney-in-Fact
This Power of Attorney limits the acts of those named herein, and they have no authority to bind the Company except in the manner and to the extent herein stated. Not valid for Note, Loan, Letter of Credit, Currency Rate, Interest Rate or Residential Value Guarantees.
POWER OF ATTORNEY
Know All Persons By These Presents:
That the Arch Insurance Company, a corporation organized and existing under the laws of the State of Missouri, having its principal administrative office in Jersey City, New Jersey (hereinafter referred to as the "Company") does hereby appoint:
Anthony Basciano of Cortland, NY
its true and lawful Attorney(s)in-Fact, to make, execute, seal, and deliver from the date of issuance of this power for and on its behalf as sure
Source: Item 23 — RECEIPTS (FDD pages 69–245)
What This Means (2025 FDD)
According to the 2025 Alloy FDD, the Attorney-in-Fact for the surety bond is Anthony Basciano. The document includes a Power of Attorney, which is executed by Arch Insurance Company, appointing Anthony Basciano of Cortland, NY, as its true and lawful Attorney-in-Fact. This appointment allows Basciano to make, execute, seal, and deliver bonds, undertakings, recognizances, and other surety obligations on behalf of Arch Insurance Company.
This authority is limited to a penal sum not exceeding $150,000,000.00, and it does not permit splitting the same obligation into multiple bonds to remain within this limit. The FDD states that the execution of these surety obligations by Basciano is binding upon Arch Insurance Company as if they were executed by the company's regularly elected officers at their principal administrative office in Jersey City, New Jersey.
Prospective Alloy franchisees should note that this Power of Attorney ensures that the surety bond is legally enforceable. The inclusion of Anthony Basciano's name and title provides clarity on who is authorized to act on behalf of the surety company, Arch Insurance Company, in matters related to the bond. This information is crucial for verifying the authenticity and validity of the surety bond, which may be required in certain states like Maryland and Minnesota due to the franchisor's financial condition.