What is the document called that outlines the Guaranty and Undertaking of Obligations for a Bumper Man franchise?
Bumper_Man Franchise · 2025 FDDAnswer from 2025 FDD Document
- (iii) Each Principal will execute and deliver to Franchisor a Guaranty and Undertaking of Obligations in the form attached hereto as Exhibit B. Any spouse or relative of Franchisee who Franchisor has authorized to perform any obligations relating to the Bumper Business will also execute and deliver to Franchisor a Guaranty and Undertaking of Obligations.
Source: Item 23 — RECEIPTS (FDD pages 45–180)
What This Means (2025 FDD)
According to the 2025 Bumper Man Franchise Disclosure Document, the document outlining the Guaranty and Undertaking of Obligations is referred to as the "Guaranty and Undertaking of Obligations" form. This form is attached to the franchise agreement as Exhibit B.
Principals, who hold equity interests in the franchisee's business entity, are required to execute and deliver this form to Bumper Man. Additionally, any spouse or relative of the franchisee authorized by Bumper Man to perform obligations related to the Bumper Business must also execute and deliver this Guaranty and Undertaking of Obligations.
This requirement ensures that individuals with a significant stake in the franchisee's business, or those authorized to act on its behalf, are personally bound by the obligations and responsibilities outlined in the franchise agreement. This provides Bumper Man with an additional layer of security and recourse in case of non-compliance or breach of contract.