What is the amount of the surety bond obtained by Bft Franchisor?
Bft Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS RIDER is made and entered into by and between | BFT FRANCHISE SPV, LLC, a |
|---|---|
| Delaware limited liability company with | its principal business address at 17877 Von Karman Ave., Suite |
| 100 Irvine, CA 92614 ("Franchisor"), and, whose | |
| principal business address is | ("Franchisee"). |
| 1. | |
| Background. Franchisor and Franchisee are parties to that certain Franchise Agreement dated | |
| , 20 (the "Franchise Agreement") that has been signed concurrently | |
| with the signing of this Rider. This Rider is annexed to and forms part of the Franchise Agreement. This | |
| Rider is being signed because (a) the offer is directed into the State of Washington and is received where it | |
| is directed; or | (c) the Studio that Franchisee |
| (b) Franchisee is a resident of the State of Washington; or | |
| develops under its Franchise Agreement is or will be located or operated, wholly or partly, in the State of | |
| Washingto |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 57–66)
What This Means (2025 FDD)
According to Bft's 2025 Franchise Disclosure Document, the franchisor has obtained a surety bond in the amount of $100,000. The issuance of Bft's permit by the Washington Securities Division is contingent upon the franchisor maintaining this surety bond coverage.
This coverage must be maintained until all Washington franchisees have fulfilled their pre-opening obligations, including receiving all training they are entitled to under the franchise agreement or offering circular, and are open for business. Alternatively, the Administrator can issue written authorization to discontinue the surety bond coverage.
This surety bond provides a level of financial protection to franchisees in Washington, ensuring that Bft fulfills its pre-opening obligations. It is a condition imposed by the Washington Securities Division to protect franchisees within that state. Prospective franchisees in Washington should confirm with Bft that the surety bond is active and meets the requirements of the Administrator.