How should a Guarantor send notice to Sunoco to revoke the Aplus Guaranty?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
GUARANTOR agrees that in order to revoke this Guaranty, GUARANTOR shall send notice to SUNOCO by certified mail or overnight delivery to the following address: Sunoco Retail LLC, 3805 West Chester Pike, Newtown Square, PA, Attn: Steve Jones.
Such revocation shall apply only to such agreements, leases, extensions of credit, or other indebtedness or obligations entered into or created at least ten (10) days after the date of receipt of such notice of revocation, and shall not apply to Indebtedness thereafter becoming due and payable under agreements, leases, sales or other obligations entered into prior to such revocation.
Any payments made after receipt of such notice of revocation shall be applied as Sunoco may elect.
Source: Item 23 — RECEIPT (FDD pages 68–302)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, a Guarantor must send a written notice to Sunoco to revoke the Aplus Guaranty. The notice must be sent via certified mail or overnight delivery. The specified address for sending the revocation notice is Sunoco Retail LLC, 3805 West Chester Pike, Newtown Square, PA, Attn: Steve Jones.
It is important to note that the revocation of the Guaranty will only apply to agreements, leases, extensions of credit, or other indebtedness or obligations entered into or created at least ten days after Sunoco receives the revocation notice. The revocation does not apply to any Indebtedness that becomes due and payable under agreements, leases, sales, or other obligations entered into before the revocation notice was received.
Any payments made after Sunoco receives the revocation notice will be applied as Sunoco chooses. This means that even after the Guaranty is revoked, Sunoco retains control over how payments are allocated, which could impact the Guarantor's obligations and potential liabilities.