What legal rights are waived upon default of a Beverly Anns Cookie loan?

According to Beverly Anns Cookie's 2025 Franchise Disclosure Document, if a franchisee defaults on a loan from either Osgood Bank, Eagle Financial Services, or Auxilior Capital Partners, they will be required to waive certain legal rights. Specifically, the franchisee waives the right to a trial by jury. They also waive the right to raise any defense, set-off, or counterclaim. For Auxilior Capital Partners loans, the franchisee also agrees that any arbitration or trial will take place on an individual basis, without any form of class action.

This waiver of rights has significant implications for a prospective Beverly Anns Cookie franchisee. Should the franchisee default on the loan, they will not be able to defend themselves in court using a jury trial. They also cannot reduce the amount they owe by claiming Beverly Anns Cookie owes them money (set-off) or by making a separate claim against Beverly Anns Cookie (counterclaim). This significantly limits the franchisee's legal options in the event of a dispute.

It is important for a prospective Beverly Anns Cookie franchisee to fully understand these waivers before signing any loan agreements. They should consult with an attorney to discuss the implications of these waivers and to assess the risks involved. Understanding these terms is crucial for making an informed decision about whether to proceed with the franchise opportunity and to be prepared for potential financial difficulties.