In the Buildingstars franchise agreement, what information is required for the Buildingstars Management, Inc. signature block?
Buildingstars Franchise · 2025 FDDAnswer from 2025 FDD Document
IN WITNESS WHEREOF, each of the undersigned has hereunto affixed their signatures on the same day and year as the Agreement was executed.
Print Name: Date: Ownership % Address: Print Name: Ownership % Address: Print Name: Ownership % Address:
Source: Item 22 — CONTRACTS (FDD page 43)
What This Means (2025 FDD)
Based on the 2025 Buildingstars Franchise Disclosure Document, the signature block for the Guaranty and Assumption of Obligations section requires the following information to be completed by each guarantor: printed name, date, ownership percentage, and address. This information is collected to ensure that Buildingstars has a clear record of who is guaranteeing the franchisee's obligations and to what extent they are liable. This is a standard practice in franchising to provide the franchisor with additional security.
For a prospective Buildingstars franchisee, this means that if the franchise is owned by a corporation or other entity, the franchisor will likely require personal guarantees from the owners or principals of the entity. The ownership percentage is important as it defines the extent of the guarantor's liability. The address is needed for official communication and legal purposes.
It is important for potential franchisees and their guarantors to carefully review the Guaranty and Assumption of Obligations section of the franchise agreement and understand the full extent of their obligations before signing. They should also seek legal counsel to ensure they fully understand the implications of providing a personal guarantee.