Who is the principal and surety company associated with the bond for Big Air Trampoline Park?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
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Item 5 of the Franchise Disclosure Document, Section 5.1 of the Franchise Agreement and Section 3.2 of the Multi-Unit Development Agreement are revised to include the following:
The Department has determined that we, the franchisor, have not demonstrated we are adequately capitalized and/or that we must rely on franchise fees to fund our operations. The Commissioner has imposed a requirement for us to maintain surety bonds under California Corporations Code section 31113 and 10 C.C.R. section 310.11.5 which must remain in effect during our registration period. Big Air Franchising, LLC has two surety bonds in California. The first surety bond is in the amount of $60,000.00 with Atlantic Specialty Insurance Company. The second surety bond is in the amount of $240,000 with Travelers Casualty and Surety Company of America. The bonds are available for you to recover your damages in the event we do not fulfill our obligations to you to open your franchised business. We will provide you with a copy of the surety bonds upon request.
Item 17 of the FDD is revised to include the following:
"THE CALIFORNIA FRANCHISE INVESTMENT LAW REQUIRES A COPY OF ALL PROPOSED AGREEMENTS RELATING TO THE SALE OF THE FRANCHISE BE DELIVERED TOGETHER WITH THE FRANCHISE DISCLOSURE DOCUMENT."
Neither the Franchisor, any person or franchise broker in Item 2 of the FDD is subject to any currently effective order of any national securities association or national securities exchange, as defined in the Securities Exchange Act of 1934, 15 U.S.C. A. 78a et seq., suspending or expelling the persons from membership in the association or exchange.
The franchise agreement provides for termination upon bankruptcy. This provision may not be enforceable under federal bankruptcy law (11 U.S.C.A. Sec. 101 et seq.).
California Business and Professions Code Sections 20000 through 20043 provide rights to you concerning termination, transfer or non-renewal of a franchise. If the franchise agreement contains a provision that is inconsistent with the law, the law will control.
The franchise agreement contains a
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to the 2025 FDD, Big Air Trampoline Park is required to maintain surety bonds under California Corporations Code section 31113 and 10 C.C.R. section 310.11.5. This requirement was imposed because the Department determined that Big Air Trampoline Park had not demonstrated adequate capitalization and/or that it relies on franchise fees to fund its operations. These bonds must remain in effect during the registration period.
Big Air Franchising, LLC, operating as Big Air Trampoline Park, has two surety bonds in California. The first bond is for $60,000 with Atlantic Specialty Insurance Company as the surety. The second bond is for $240,000 with Travelers Casualty and Surety Company of America as the surety. These bonds are available for franchisees to recover damages if Big Air Trampoline Park fails to fulfill its obligations to open the franchised business.
Additionally, Big Air Trampoline Park has a bond with Travelers Casualty and Surety Company of America for $60,000 related to obligations to the State of Washington. In this case, Big Air Franchising, LLC is the principal, and Travelers Casualty and Surety Company of America is the surety. Russell E. Vance is listed as Attorney-in-Fact for Travelers Casualty and Surety Company of America.