What is the title of the person signing on behalf of Arch Insurance Company for the Alloy surety bond?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
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
Source: Item 23 — RECEIPTS (FDD pages 69–245)
What This Means (2025 FDD)
According to Alloy's 2025 Franchise Disclosure Document, the person signing on behalf of Arch Insurance Company on the surety bond holds the title of Attorney-in-Fact. Specifically, the document mentions Anthony Basciano as the Attorney-in-Fact for Arch Insurance Company.
This means that Anthony Basciano is authorized to act on behalf of Arch Insurance Company regarding the surety bond. The Power of Attorney granted to this individual limits their actions to the specifics outlined in the document, primarily concerning the surety bond. This ensures that the Attorney-in-Fact cannot bind the company beyond the scope of the bond and the conditions explicitly stated in the Power of Attorney.
It is important for prospective Alloy franchisees to understand the limitations of the Attorney-in-Fact's authority, as stated in the document. The document explicitly states that the named individuals have no authority to bind the company except in the manner and to the extent stated in the Power of Attorney. This protects Arch Insurance Company from unauthorized actions and provides clarity regarding the scope of the surety bond.