Where do the guarantors provide the date on the Bor Restoration FDD?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
DONE AS OF THE EFFECTIVE DATE.
BOR FRANCHISING, LLC Member date: its: date: IF FRANCHISEE IS/ARE INDIVIDUAL(S) Name: Date: GUARANTOR(S) Print Name: Print Name:
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the guarantor(s) provide the date in conjunction with their printed name and signature. Specifically, the document includes a section for the guarantor(s) to print their name, provide a signature, and then enter the date. This information is part of a general release and is required to ensure the guarantor's acknowledgement and agreement to the terms outlined in the release.
The inclusion of the date alongside the guarantor's signature is a standard legal practice to establish when the agreement was executed. This is important for determining the effective date of the release and for verifying the timeline of the guarantor's obligations. The guarantor, by signing and dating the document, confirms their understanding and acceptance of their responsibilities as outlined in the franchise agreement.
Prospective Bor Restoration franchisees should ensure that all guarantors carefully review the general release and understand their obligations before signing and dating the document. It is advisable for guarantors to seek legal counsel to fully comprehend the implications of their guarantee. This step helps protect their interests and ensures compliance with the terms of the franchise agreement.