What is the Guaranty and Non-Compete Agreement called in the Better Blend FDD?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
Attachment 3 to Franchise Agreement
GUARANTY AND NON-COMPETE AGREEMENT
This Guaranty and Non-Compete Agreement (this "Guaranty") is executed by the undersigned person(s) (each, a "Guarantor") in favor of Better Blend Franchising, LLC, an Ohio limited liability company ("BBF").
Source: Item 22 — CONTRACTS (FDD page 43)
What This Means (2024 FDD)
According to the 2024 Better Blend Franchise Disclosure Document, the agreement is formally titled "GUARANTY AND NON-COMPETE AGREEMENT." This agreement, as stated in the FDD, is executed by the guarantor in favor of Better Blend Franchising, LLC.
This agreement is an attachment to the franchise agreement. The document excerpt specifies that it is designated as Attachment 3 to the Franchise Agreement.
Prospective franchisees should carefully review this agreement with their legal counsel to fully understand their obligations and the implications of the guaranty and non-compete clauses. This is a standard document in franchising, but the specific terms can vary significantly from one franchise system to another.