What is the purpose of the official seal mentioned in the Big Air Trampoline Park document?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
IN WITNESS WHEREOF the Companies have caused this instrument to be signed and their corporate seals to be hereto affixed, this 21st day of April, 2021
City of Harfford as
On this the 21st day of April 2021, before me personally appeared Robert L. Raney, who acknowledged himself to be the Senior Vice President of each of the Companies and that he as such being authorized so to do, executed the foregoing instrument for the purposes therein contained by signing on behalf of said Companies by himself as a duly authorized officer.
IN WITNESS WHEREOF, I hereunto set my hand and official seal
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to the 2025 Big Air Trampoline Park FDD, the official seals are related to surety bonds and power of attorney documents. These seals, along with signatures, are affixed to these documents to attest to their validity and to confirm that the individuals signing have the authority to do so on behalf of the companies involved. Specifically, the seals appear on documents from Travelers Casualty and Surety Company of America and similar entities, as well as acknowledgments from notaries public. These seals serve to authenticate the signatures and the roles of the individuals involved, such as Senior Vice Presidents and Attorneys-in-Fact.
The presence of these seals is particularly important in the context of surety bonds, which are used to ensure compliance with legal and contractual obligations. For example, Big Air Trampoline Park is required to have a surety bond with the State of Washington for $60,000 to ensure compliance with permits and franchises related to constructing and maintaining facilities along highways. The seals on these bonds, along with the signatures of authorized representatives, provide assurance that the bond is legally binding and that the surety company will fulfill its obligations if Big Air Trampoline Park fails to meet its commitments.
For a prospective Big Air Trampoline Park franchisee, understanding the purpose and significance of these seals is crucial. It confirms that the franchisor has secured the necessary bonds and legal authorizations to operate and offer franchises. This can provide a level of comfort and assurance that the franchisor is compliant with legal requirements. Additionally, franchisees may encounter similar requirements for bonds or legal documents in their own operations, making it important to recognize the role and importance of official seals in these contexts.