Who is the pledgor for the Bath Tune Up General Security Agreement?
Bath_Tune_Up Franchise · 2025 FDDAnswer from 2025 FDD Document
| TITLE OF AGREEMENT | EXHIBIT/ SCHEDULE # | SIGNED BY |
|---|---|---|
| General Security Agreement | Exhibit K | You (Pledgor) and us |
Source: Item 23 — RECEIPTS (FDD pages 52–222)
What This Means (2025 FDD)
According to the 2025 Bath Tune Up Franchise Disclosure Document, the pledgor for the General Security Agreement is the franchisee. This means that as a franchisee, you are the one pledging assets as collateral for the security agreement.
The General Security Agreement is a legal document that gives Bath Tune Up a security interest in certain assets of the franchisee. This allows Bath Tune Up to have a claim on those assets if the franchisee defaults on their obligations under the franchise agreement.
Prospective franchisees should carefully review the General Security Agreement with a legal advisor to fully understand the assets being pledged and the implications of default. Understanding the terms of this agreement is crucial for managing the financial risks associated with owning a Bath Tune Up franchise.