What notices does the undersigned waive under the Bens Soft Pretzels Personal Guarantee?
Bens_Soft_Pretzels Franchise · 2025 FDDAnswer from 2025 FDD Document
The undersigned waives: (1) notice of demand for payment of any indebtedness or nonperformance of any obligations hereby guaranteed; (2) protest and notice of default to any party respecting the indebtedness or nonperformance of any obligations hereby guaranteed; and (3) any right he/she may have to require that an action be brought against the franchisee or any other person as a condition of liability.
In addition, the undersigned consents and agrees that: (1) the undersigned's liability will not be contingent or conditioned upon our pursuit of any remedies against the franchisee or any other person; and (2) such liability will not be diminished, relieved or otherwise affected by franchisee's insolvency, bankruptcy or reorganization, the invalidity, illegality or unenforceability of all or any part of the Franchise Agreement, or the amendment or extension of the Franchise Agreement with or without notice to the undersigned.
It is further understood and agreed by the undersigned that the provisions, covenants and conditions of this Guarantee will inure to the benefit of our successors and assigns.
Source: Item 22 — CONTRACTS (FDD pages 46–47)
What This Means (2025 FDD)
According to the 2025 Bens Soft Pretzels Franchise Disclosure Document, the personal guarantee requires the undersigned to waive certain notices related to the franchisee's obligations. Specifically, the guarantor waives the right to receive notice of demand for payment of any debt or notice of nonperformance of any guaranteed obligations.
Additionally, the guarantor waives the right to be notified of any protest or default by any party concerning the guaranteed debt or nonperformance. This means that Bens Soft Pretzels is not obligated to inform the guarantor if the franchisee fails to meet their financial or contractual responsibilities.
Finally, the guarantor waives any right to demand that Bens Soft Pretzels first take action against the franchisee or any other person before seeking fulfillment of the guarantee. This allows Bens Soft Pretzels to pursue the guarantor directly without having to exhaust other potential remedies. The guarantor also consents to their liability not being contingent on Bens Soft Pretzels pursuing remedies against the franchisee and that their liability will not be affected by the franchisee's financial issues or the invalidity of the Franchise Agreement.