What is the condition that limits the aggregate liability regarding the Alloy Personal Training, LLC bond?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
Due to the financial condition of the Franchisor, the Minnesota Department of Commerce has required a financial assurance. Therefore, we have posted a surety bond which is on file with the State of Minnesota. A copy of the surety bond is attached as an exhibit to the Minnesota addenda pages.
Source: Item 23 — RECEIPTS (FDD pages 69–245)
What This Means (2025 FDD)
According to the 2025 FDD, Alloy Personal Training, LLC is required to post a surety bond with the State of Minnesota due to the franchisor's financial condition. The FDD mentions that the Minnesota Department of Commerce mandated this financial assurance. A copy of this surety bond is included as an exhibit to the Minnesota addenda pages.
However, the excerpt does not specify the exact conditions that limit the aggregate liability of the bond. The document only confirms the existence of the bond and its location within the FDD exhibits.
A prospective franchisee should review the Minnesota addenda pages and the surety bond exhibit to understand the specific terms, conditions, and limitations of the bond, including the aggregate liability cap and the circumstances under which claims can be made against it. It would be prudent to consult with a legal or financial advisor to fully understand the implications of the surety bond.