What is the effective date of the surety bond for Big Air Trampoline Park?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
------------------| | Dated | | | Signature of Franchisor Representative | Signature of Franchisee Representative | | Title of Franchisor Representative | Title of Franchisee Representative [remainder of page blank; Surety Bond on following page] |
| Во | nd No. 107815250 | |-------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------| | KNOW ALL MEN BY THESE PRESENTS: That we, BIG AIR | FRANCHISING, LLC | | of ORANGE County C | ALIFORNIA as | | Principal, and Travelers Casualty and Surety Company of America | a , lawfully doing business in the State of Washington, | | as Surety, are held and firmly bound unto the State of Washington | on, for the benefit of any interested person, in the sum of | | Sixty Thousand do | illars, to be paid to the State of Washington for the use and benefit of | | any interested person, for which sum well and | | | truly to be paid, said Principle and Surety jointly and severally bi | ind themselves, heirs, executors, administrators, and assigns, | | firmly by these presents: | | | THE CONDITIONS OF THIS OBLIGATION ARE SUCH THAT, | | | provisions of Chapter 47.50 RCW and/or Chapter 47.32 RCV | with the Washington State Department of Transportation, under the Wand/or Chapter 47.44 RCW and amendments thereto, application | | for a Permit or Franchise to construct, operate, and maintain | its facilities along, under, and across various highways under lation. | | jurisdiction of the Washington State Department of Transport | | | The Washington State Department of Transportation, has ag | reed to allow the Principal to construct these facilities under the | | provisions of the Permit or Franchise number | t if all the conditions and requirements of said permits and franchises, | | including but not limited to performance of the subject work and | the proper restoration of slopes, slope treatment, right of way, topsoil, | | landscape treatment, drainage facilities, and cleanup of right of | way, are complied with according to the terms contained in said | | Permits and Franchises by said Principal, through a period in a | ccordance with Chapter 468.34.020(3) WAC and upon receipt of a | | written discharge from the State, then this obligation shall beco | me null and void; otherwise, this bond to remain in full force and effect | | WITNESS our hands and seals this day | of April 2023 Principal: BIG AIR FRANCHISING, LLC | | NOTE: Below the signatures type or print the name and title of the Parties executing this bond | Address: 999 CORPORATE DR STE 215 | | of the Parties executing this bond | LADERA RANCH, CA 92694-2148 EADERA RAITCH, CA 7207-2140 | | Correspondence regarding this bond should be mailed to: | Telephone: | | WASHINGTON STATE | 21931K | | DEPARTMENT OF TRANSPORTATION | Ву: | | Region: | Title: President | | | | | Address: | Surety: Travelers Casualty and Surety Company of America Address: One Tower Square Hartford, CT 06183 Harttord, C1 00183 Telephone: | | Ву: | 22 | | Title: | By: Lance Russell E. Vance | | A 1100/27 | Title: Attorney-in-Fact | | Date: | - 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 (Sur survey) HATTOPO. | | | |
Travelers Casualty and Surety Company of America Travelers Casualty and Surety Company St.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to the 2025 FDD, Big Air Trampoline Park has multiple surety bonds. One surety bond, No. 107815250, was witnessed in April 2023. Another surety bond, No. 167774557, is effective as of April 21, 2021.
For a prospective franchisee, this means that Big Air Trampoline Park is required to maintain these bonds to ensure they fulfill their obligations, particularly in California. The bonds serve as a financial guarantee that funds are available to cover damages if Big Air Trampoline Park fails to meet its obligations to franchisees, such as opening the franchised business.
The existence of these bonds may provide some assurance to franchisees, especially in states like California where specific regulations require them. Franchisees can request copies of these bonds to understand the coverage and terms, offering a degree of financial protection in case of franchisor default.