What are the conditions of the bond related to the Big Air Trampoline Park franchise offering in Illinois?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
hise agreement is hereby amended to delete Sections 1.1, 1.2, 1.8, and 22.
The multi-unit development agreement is hereby amended to delete the seventh recital paragraph and Sections 19 and 23.
ILLINOIS
Pursuant to an order by the Illinois Office of the Attorney General, we have posted as surety a bond in the amount of $60,000. The Illinois Office of the Attorney General imposed this bond requirement due to our financial condition. A copy of the bond is attached to this Addenda.
Sections 4 and 41 and Rule 608 of the Illinois Franchise Disclosure Act states that court litigation must take place before Illinois federal or state courts and all dispute resolution arising from the terms of this Agreement or the relationship of the parties and conducted through arbitration or litigation shall be subject to Illinois law. The Franchise Disclosure Document, Franchise Agreement and Multi-Unit Development Agreement are amended accordingly.
The governing law or choice of law clause described in the Franchise Disclosure Document and contained in the Franchise Agreement and Multi-Unit Development Agreement is not enforceable under Illinois law. This governing law clause shall not be construed to negate the application of the Illinois Franchise Disclosure Act in all situations to which it is applicable.
Section 41 of the Illinois Franchise Disclosure Act states that "any condition, stipulation or provision purporting to bind any person acquiring any franchise to waive compliance with any provision of this Act or any other law of this State is void." The Franchise Agreement and Multi-Unit Development Agreement are amended accordingly.
Item 17.v, Choice of Forum, of the Franchise Disclosure Document is revised to include the following: "provided, however, that the foregoing shall not be considered a waiver of any right granted upon you by Section 4 of the Illinois Franchise Disclosure Act".
Item 17.w, Choice of Law, of the Franchise Disclosure Document is revised to include the following: "provided, however, that the foregoing shall not be considered a waiver of any right granted upon you by Section 4 of the Illinois Franchise Disclosure Act
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to the 2025 Big Air Trampoline Park Franchise Disclosure Document, Big Air Franchising, LLC has a $60,000 surety bond in Illinois. This bond was mandated by the Illinois Office of the Attorney General due to the company's financial condition. A copy of the bond is attached to the State-Specific Addendum.
Additionally, the FDD stipulates that any court litigation must occur within Illinois federal or state courts, and all dispute resolutions, whether through arbitration or litigation, are subject to Illinois law. This amendment affects the Franchise Disclosure Document, Franchise Agreement, and Multi-Unit Development Agreement.
The governing law or choice of law clause described in the Franchise Disclosure Document and contained in the Franchise Agreement and Multi-Unit Development Agreement is not enforceable under Illinois law. Furthermore, any condition that requires a franchisee to waive compliance with the Illinois Franchise Disclosure Act or any other state law is void. The termination and non-renewal provisions in the Franchise Agreement and Franchise Disclosure Document may not be enforceable under Sections 19 and 20 of the Illinois Franchise Disclosure Act.