In the Bevaris Alliance franchise agreement, what information is required regarding the Individual?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
This agreement is dated [DATE]
Parties
- (1) Bevaris Alliance Franchise System, LLC, a limited liability company organized under the laws of Delaware, having its principal office located at 407 N. Maple Drive, Ground Floor, Suite #1, Beverly Hills, CA 90210 (Franchisor)
- (2) [FULL FRANCHISEE COMPANY NAME] incorporated and registered in [STATE OF INCORPORATION or ORGANIZATION] whose registered office is at [REGISTERED OFFICE ADDRESS] (Franchisee)
- (3) [NAME] of [ADDRESS] (Individual)
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
According to the 2024 Bevaris Alliance Franchise Disclosure Document, the franchise agreement requires the full name and address of the individual who is party to the agreement. This individual is listed as the third party in the agreement, after the Franchisor (Bevaris Alliance Franchise System, LLC) and the Franchisee (the franchisee company).
In the franchise agreement, the inclusion of an 'Individual' suggests that this person may be taking on specific responsibilities or obligations related to the franchise. This is a common practice when the franchisee is a corporate entity, where a specific person, such as a director or owner, might be required to guarantee the franchisee's performance or ensure compliance with the franchise agreement.
Prospective franchisees should clarify with Bevaris Alliance the exact role and responsibilities of the 'Individual' named in the agreement. Understanding the liabilities and commitments associated with this role is crucial before signing the franchise agreement. It is also important to understand why Bevaris Alliance requires this individual to be named in the agreement and what impact their involvement has on the franchise operation.