Where is the Basecamp Fitness surety bond on file?
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, the location of the surety bond depends on the state where the franchise is being offered or sold. For franchises offered and sold in Illinois, a surety bond has been obtained by Basecamp Fitness and is on file with the Office of the Illinois Attorney General. This requirement was imposed due to the financial condition of the franchisor's guarantor.
For franchises sold to residents in Maryland, Basecamp Fitness has 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. This financial assurance was required by the Maryland Securities Commissioner based on the franchisor's financial condition.
It is important for prospective franchisees to note that these surety bond requirements are state-specific and arise from the franchisor's financial situation. Franchisees should verify with the relevant state authorities to confirm the current status and requirements for surety bonds in their specific state.