How should the guarantor send notice to Sunoco to revoke the Aplus Guaranty?

According to Aplus's 2024 Franchise Disclosure Document, a guarantor who wishes to revoke the Aplus Guaranty must send a written notice to Sunoco. This notice must be sent via certified mail or overnight delivery to a specific address. The address is Sunoco Retail LLC, 3805 West Chester Pike, Newtown Square, PA, and the notice must be addressed to Steve Jones.

It's important to understand that the revocation of the guaranty is not immediate. The revocation 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. This means that the guarantor remains liable for any obligations incurred before this ten-day period. Furthermore, the revocation does not apply to indebtedness that becomes due and payable under agreements, leases, sales, or other obligations entered into prior to the revocation.

Any payments made after Sunoco receives the revocation notice will be applied as Sunoco chooses. This gives Sunoco the flexibility to allocate payments in a way that best protects its interests. This clause is standard in many guaranty agreements, as it allows the creditor to manage the debt in an orderly manner even after a guaranty is revoked.

Prospective Aplus franchisees should carefully consider the implications of the guaranty and the process for revocation. It is advisable to consult with legal counsel to fully understand the obligations and potential liabilities associated with the guaranty before signing any agreements.