Under the bond agreement, who is the surety for Big Air Trampoline Park?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
tem 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
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
According to the 2025 FDD, Big Air Trampoline Park in California has two surety bonds. For the first surety bond of $60,000, the surety is Atlantic Specialty Insurance Company. For the second surety bond of $240,000, the surety is Travelers Casualty and Surety Company of America.
These surety bonds are required by the California Corporations Code because the Department has determined that Big Air Trampoline Park has not demonstrated that they are adequately capitalized and/or that they must rely on franchise fees to fund their operations. The bonds are available for franchisees to recover damages if Big Air Trampoline Park does not fulfill their obligations to open the franchised business.
Prospective franchisees should request a copy of the surety bonds to understand the specific terms and conditions of the bonds. This will help them understand the circumstances under which they could make a claim against the bond. Franchisees should also confirm that the bonds are in effect during the registration period.