Who is the surety for the Alloy franchise in the Minnesota surety bond?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
PLEASE SEND ALL CLAIM INQUIRIES RELATING TO THIS BOND TO THE FOLLOWING ADDRESS:
Arch Insurance - Surety Division
3 Parkway, Suite 1500 Philadelphia, PA 19102 CORPORATE SEAL. 1971
Missouri To verify the authenticity of this Power of Attorney, please contact Arch Insurance Company at SuretyAuthentic@archinsurance.com Please refer to the above named Attorney-in-Fact and the details of the bond to which the power is attached.
Source: Item 23 — RECEIPTS (FDD pages 69–245)
What This Means (2025 FDD)
According to Alloy's 2025 Franchise Disclosure Document, Arch Insurance Company is the surety for the Alloy franchise in the Minnesota surety bond. Claim inquiries pertaining to the bond should be sent to Arch Insurance - Surety Division at 3 Parkway, Suite 1500, Philadelphia, PA 19102. To verify the authenticity of the Power of Attorney, one can contact Arch Insurance Company at SuretyAuthentic@archinsurance.com and refer to the Attorney-in-Fact and the bond details.
Due to Alloy's financial condition, the Minnesota Department of Commerce requires a financial assurance in the form of a surety bond, which is on file with the State of Minnesota. A copy of this bond is included as an exhibit to the Minnesota addenda pages. This requirement is also noted in the addendum to the Area Development Agreement for Minnesota.
This surety bond serves as a financial guarantee, ensuring that Alloy will fulfill its financial obligations to franchisees in Minnesota. In the event that Alloy fails to meet these obligations, franchisees can make a claim against the bond to recover losses. The presence of this bond provides an added layer of security for franchisees, particularly given the franchisor's financial condition.