Has Basecamp Fitness obtained a Surety Bond, and if so, where is it filed?
Basecamp_Fitness Franchise · 2025 FDDAnswer from 2025 FDD Document
) disclaiming reliance on any statement made by Franchisor, franchise seller, or other person acting on behalf of the Franchisor. This provision supersedes any other term of any document executed in connection with the franchise.
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- A Surety Bond has been obtained by the Franchisor. The Surety Bond is on file with the Office of the Illinois Attorney General. This financial assurance requirement was imposed by the Office of the Illinois Attorney General due to the Franchisor's guarantor's financial condition.
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, a surety bond has been obtained by the franchisor. For franchisees in Illinois, the surety bond is on file with the Office of the Illinois Attorney General. This financial assurance requirement was imposed by the Office of the Illinois Attorney General due to the Franchisor's guarantor's financial condition.
For Basecamp Fitness franchisees in Maryland, the Maryland Securities Commissioner has required a financial assurance due to the franchisor's financial condition. As a result, Basecamp Fitness secured a surety bond in the amount of $291,000 from Capitol Indemnity Corporation. A 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.
It is important for prospective franchisees to understand the reasons behind the surety bond requirements, as they are directly related to the franchisor's financial condition and/or that of its guarantor. This could indicate a higher level of risk associated with investing in a Basecamp Fitness franchise, and it would be prudent to conduct thorough due diligence and seek professional financial advice.