What does the Guarantor warrant and agree regarding waivers in the Buona franchise agreement?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
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- Guarantor's Understanding with Respect to Waivers. Guarantor warrants and agrees that each of the waivers set forth above is made with Guarantor's full knowledge of the significance and consequences thereof, and that, under the circumstances, the waivers are reasonable and not contrary to public policy or law. If any such waiver is determined to be contrary to any applicable law or public policy, such waiver shall be effective only to the extent permitted by law.
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, the guarantor must understand the waivers within the franchise agreement. The guarantor warrants and agrees that they fully understand the significance and consequences of each waiver. They also agree that the waivers are reasonable and comply with public policy and the law. However, if any waiver is deemed contrary to applicable law or public policy, it will only be effective to the extent permitted by law.
This means that if you are a guarantor for a Buona franchise, you are confirming that you know what you are giving up by agreeing to the waivers. These waivers are designed to protect Buona, and as a guarantor, you are stating that you understand and accept these protections.
It is important for potential guarantors to carefully review all waivers with a legal professional to fully understand their implications. This ensures that the guarantor is aware of their rights and obligations under the agreement and can make an informed decision.