What is the purpose of the Power of Attorney document for Big Air Trampoline Park?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
Travelers Casualty and Surety Company of America Travelers Casualty and Surety Company St. Paul Fire and Marine Insurance Company Farmington Casualty Company
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS: That Travelers Casualty and Surety Company of America, Travelers Casualty and Surety Company, St. Paul Fire and Marine Insurance Company, and Farmington Casualty Company are corporations duly organized under the laws of the State of Connecticut (herein collectively called the "Companies"), and that the Companies do hereby make, constitute and appoint Russell E. Vance, of Hartford, CT, their true and lawful Attorney(s)-in-Fact, to sign, execute, seal and acknowledge the following bond:
Surety Bond No.: 107815250
Principal: BIG AIR FRANCHISING, LLC
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.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to the 2025 FDD, the Power of Attorney document for Big Air Trampoline Park designates specific individuals as attorneys-in-fact, granting them the authority to act on behalf of certain insurance companies. Specifically, Travelers Casualty and Surety Company of America, Travelers Casualty and Surety Company, St. Paul Fire and Marine Insurance Company, and Farmington Casualty Company authorize Russell E. Vance of Hartford, CT, to sign, execute, seal, and acknowledge surety bonds on their behalf. This delegation of authority allows these companies to efficiently manage and execute bonds related to Big Air Trampoline Park's franchising activities. The Power of Attorney ensures that the designated attorney-in-fact can legally bind the insurance companies to the surety bond.
The inclusion of a Power of Attorney in the FDD indicates that Big Air Trampoline Park utilizes surety bonds in its franchising operations. These bonds provide a financial guarantee that Big Air Trampoline Park will fulfill its obligations. The Power of Attorney streamlines the process by enabling the attorney-in-fact to act on behalf of the surety companies, ensuring the bond can be properly executed. The document references specific surety bond numbers (e.g., 167774557 and 107815250) and names Big Air Franchising, LLC as the principal, further clarifying the bond's purpose in relation to the franchise.
Prospective Big Air Trampoline Park franchisees should understand the implications of surety bonds and the role of the Power of Attorney. It is important to verify the authenticity of the Power of Attorney, as indicated by the provided phone number (1-800-421-3880), to ensure the bond is valid and enforceable. Franchisees should also be aware of the conditions under which the bond may be invoked and the protections it offers. Understanding these aspects will help franchisees assess the financial security and obligations associated with their franchise agreement.