factual

What is the meaning of 'instrument' in the context of the Big Air Trampoline Park document?

Big_Air_Trampoline_Park Franchise · 2025 FDD

Answer from 2025 FDD Document

FN WITNESS WHEREOF. Principal and Surety have executed this instrument at

Source: Item 22 — CONTRACTS (FDD page 53)

What This Means (2025 FDD)

According to the 2025 Franchise Disclosure Document, the term "instrument" in the context of Big Air Trampoline Park refers to a formal or legal document, specifically in relation to surety bonds and power of attorney.

The document uses "instrument" when referring to the execution of a surety bond. For example, Travelers Casualty and Surety Company of America, along with other companies, appointed Russell E. Vance as their Attorney-in-Fact to sign, execute, seal, and acknowledge the surety bond. The document states that the Companies caused this "instrument" to be signed and their corporate seals affixed on April 21, 2021.

This indicates that "instrument" is used to denote a legal document that formalizes an agreement or grants authority, such as a surety bond or a power of attorney, within the franchising context of Big Air Trampoline Park.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.