Under the Beauty Bungalows Guaranty, is the undersigned's liability joint and several with other signatories?

According to Beauty Bungalows' 2025 Franchise Disclosure Document, the personal guaranty signed by the owner/shareholder states that their liability is joint and several with all other signatories to similar guaranties of the franchisee's obligations. This means that each person who signs a guaranty is individually and collectively responsible for the full amount of the franchisee's debt and obligations to Beauty Bungalows.

In practical terms, Beauty Bungalows can pursue any one or all of the guarantors for the full amount owed, regardless of the contributions or involvement of the other guarantors. This provides Beauty Bungalows with a stronger position, as they are not required to allocate responsibility proportionally among the guarantors or first pursue the franchisee directly.

For a prospective Beauty Bungalows franchisee, this clause highlights the significant personal financial risk involved in signing the guaranty. Before signing, potential franchisees should fully understand the implications of joint and several liability and consider seeking legal counsel to assess their individual circumstances and potential exposure. They should also evaluate the financial stability and creditworthiness of any co-signatories, as they could be held responsible for the entire debt if other guarantors default.