What is the significance of the seal affixed to the preceding instrument concerning Big Air Trampoline Park?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
Resolved: That the Attorney-in-Fact may be given full power and authority to execute for and in the name and on behalf of the Company any and all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney-in-Fact shall be as binding upon the Company as if signed and sealed by an Authorized Officer and, further, the Attorney-in-Fact is hereby authorized to verify any affidavit required to be attached to bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof.
This power of attorney is signed and sealed by facsimile under the authority of the following Resolution adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012:
Resolved: That the signature of an Authorized Officer, the signature of the Secretary or the Assistant Secretary, and the Company seal may be affixed by facsimile to any power of attorney or to any certificate relating thereto appointing an Attorney-in-Fact for purposes only of executing and sealing any bond, undertaking, recognizance or other written obligation in the nature thereof, and any such signature and seal where so used, being hereby adopted by the Company as the original signature of such officer and the original seal of the Company, to be valid and binding upon the Company with the same force and effect as though manually affixed.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to Big Air Trampoline Park's 2025 Franchise Disclosure Document, the presence of a corporate seal on legal documents, such as surety bonds and powers of attorney, signifies that the document has been formally executed and authenticated by the company. In the context of the provided documents, seals from companies like Travelers Casualty and Surety Company of America and Atlantic Specialty Insurance Company, along with signatures from authorized officers and notaries public, validate the legal standing and enforceability of the bonds and powers of attorney. These seals confirm that the individuals signing the documents are authorized to represent their respective companies and that the obligations undertaken are binding. For instance, a seal on a surety bond ensures that Big Air Trampoline Park is bonded for a specific amount, such as $60,000 in the case of the bond with Atlantic Specialty Insurance Company for the State of California, protecting interested parties in case Big Air Trampoline Park fails to meet certain obligations.
The inclusion of a notary public's signature and seal, as seen in acknowledgements from states like California and Minnesota, further verifies the identity of the individuals who signed the documents and confirms that they did so willingly and with proper authorization. This is a standard legal practice to prevent fraud and ensure the integrity of the documents. For example, the California All-Purpose Acknowledgment explicitly states that the notary verifies the identity of the signer but not the document's truthfulness, accuracy, or validity. Similarly, the acknowledgment from Minnesota confirms that the officer who executed the document is indeed authorized to do so and that the seal affixed is the company's official seal.
For a prospective Big Air Trampoline Park franchisee, these seals and acknowledgements provide assurance that the franchise agreements and related documents are legally sound and enforceable. They demonstrate that Big Air Trampoline Park has taken the necessary steps to comply with legal requirements and protect the interests of both the franchisor and the franchisee. Understanding the significance of these seals and acknowledgements can help a franchisee have confidence in the legitimacy of the franchise offering and the commitments made by all parties involved.