Under the Amerispec Inspection Services Franchise Agreement, what is covered in Exhibit B?
Amerispec_Inspection_Services Franchise · 2025 FDDAnswer from 2025 FDD Document
EXHIBIT B TO FRANCHISE AGREEMENT
GUARANTY
IN CONSIDERATION for, and as an inducement for TCB AMERISPEC, LLC (the "Company"), to enter into the Franchise Agreement to which this Guaranty is attached (the "Franchise Agreement"), the Franchisee, and if the Franchisee is a corporation or other legal entity, each of the owners of the corporation or other legal business entity, hereby jointly and severally guarantee to the Company and to the Company's successors and assigns the payment of all franchise fees provided for in the Franchise Agreement and the performance of all of the provisions of the Franchise Agreement for and during the term of the Franchise Agreement and all renewals thereof. The undersigned further specifically agree to be individually bound by all covenants, obligations and commitments of the Franchisee contained in the Franchise Agreement to the same extent as if each of the undersigned had individually executed the Franchise Agreement as Franchisee and consents to and agrees that they are subject to and will abide by the dispute resolution provisions contained in the Franchise Agreement.
In addition to the other Franchise Agreement provisions, each of the undersigned agree to be personally bound to the confidentiality provision in Paragraph 14.1 of the Franchise Agreement and the non-compete covenants in Paragraph 15 of the Franchise Agreement.
Source: Item 22 — Contracts (FDD pages 46–47)
What This Means (2025 FDD)
According to the 2025 Amerispec Inspection Services Franchise Disclosure Document, Exhibit B to the Franchise Agreement contains a Guaranty. This Guaranty stipulates that the franchisee, and if the franchisee is a corporation or other legal entity, each of the owners of the corporation or other legal business entity, jointly and severally guarantee to TCB AmeriSpec, LLC the payment of all franchise fees and the performance of all provisions within the Franchise Agreement for its entire term and all renewals.
This means that the individuals signing the guaranty are personally liable for the financial obligations and operational compliance of the franchise. They are agreeing to be individually bound by all covenants, obligations, and commitments of the franchisee as if they had each individually executed the Franchise Agreement.
Furthermore, the individuals providing the guaranty specifically agree to be personally bound to the confidentiality provision in Paragraph 14.1 of the Franchise Agreement and the non-compete covenants in Paragraph 15 of the Franchise Agreement. This extends their personal responsibility beyond just financial matters to include protecting confidential information and adhering to the non-compete terms, even if they are acting through a corporate entity.