Who is the surety for the bond related to Alloy Personal Training, LLC?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
a material inducement to a franchisee's investment. This provision supersedes any other or inconsistent term of any document executed in connection with the franchise.
- Except as amended herein, the Area Development Agreement will be construed and enforced in accordance with its terms.
Each of the undersigned hereby acknowledges having read and understood this Addendum and consents to be bound by all of its terms.
FRANCHISOR: Alloy Personal Training, LLC DEVELOPER:
MARYLAND SURETY BOND
ARCH SURETY
CONTINUATION CERTIFICATE
KNOWN ALL MEN BY THESE PRESENTS, THAT:
In consideration for the payment of a renewal premium, ARCH INSURANCE COMPANY, as SURETY, does hereby continue
| Bond Number: | SP 0000855-0000 | |||
|---|---|---|---|---|
| Effective Date: | 06/29/2022 | V. | ||
| Amount of bond: | $135,000.00 | |||
| Continued from: | 06/29/2023 | to | 06/29/2024 | |
| On behalf of: | Alloy Personal Training, LLC | |||
| In favor of: | State of Maryland Securities D | Divisio | n |
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.
Source: Item 23 — RECEIPTS (FDD pages 69–245)
What This Means (2025 FDD)
According to Alloy's 2025 Franchise Disclosure Document, the surety for the bond related to Alloy Personal Training, LLC in Maryland is ARCH SURETY and ARCH INSURANCE COMPANY. The bond number is SP 0000855-0000, and it was effective from 06/29/2022, continuing from 06/29/2023 to 06/29/2024. The amount of the bond is $135,000.00, and it is in favor of the State of Maryland Securities Division.
Additionally, Alloy has a surety bond in Illinois. The surety for the bond related to Alloy in Illinois is not explicitly stated, but the bond number is SP 0000872-0000. It was effective from 07/19/2022, continuing from 07/19/2023 to 07/19/2024. The amount of the bond is also $135,000.00, and it is in favor of the State of Illinois Attorney General.
Furthermore, the Minnesota Department of Commerce requires a financial assurance due to Alloy's financial condition, resulting in a surety bond on file with the State of Minnesota. The specific surety for the Minnesota bond is not named in the provided excerpt, but the bond number is SU 1183535-0000. A copy of the surety bond is attached as an exhibit to the Minnesota addenda pages.