Where is the copy of the surety bond for Basecamp Fitness on file, as required by the Maryland Securities Commissioner?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
ng under the Maryland Franchise Registration and Disclosure Law.
- The following language is added to the end of the chart in Item 17:
You must bring any claims arising under the Maryland Franchise Registration and Disclosure Law within 3 years after the grant of the franchise.
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- Based upon the franchisor's financial condition, the Maryland Securities Commissioner
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER, AND DISPUTE RESOLUTION (FDD pages 51–55)
What This Means (2025 FDD)
According to Basecamp Fitness's 2025 Franchise Disclosure Document, because of the franchisor's financial condition, the Maryland Securities Commissioner required a financial assurance. To meet this requirement, Basecamp Fitness secured a surety bond in the amount of $291,000 from Capitol Indemnity Corporation.
For prospective Basecamp Fitness franchisees in Maryland, this means that the franchisor has taken steps to protect their investment due to concerns about the company's financial stability. The surety bond acts as a safeguard, ensuring that funds are available to cover potential losses or damages suffered by franchisees in the event that Basecamp Fitness fails to meet its financial obligations.
The copy of this bond is on file at the Maryland Office of the Attorney General, Securities Division, located at 200 St. Paul Place, Baltimore, Maryland 21202. This indicates that the bond's details and terms are officially recorded and accessible for verification and potential claims, providing an added layer of security for franchisees operating in Maryland.