In the Buona Guaranty, what currency are dollar amounts referenced in?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
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- Definitions. The following capitalized words and terms shall have the following meanings when used in this Guaranty. Unless specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America. Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words and terms not otherwise defined in this Guaranty shall have the meanings attributed to such terms in the Uniform Commercial Code.
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, all dollar amounts referenced in the Guaranty refer to amounts in lawful money of the United States of America, unless explicitly stated otherwise. This means that any fees, costs, or financial obligations outlined in the Guaranty agreement will be denominated and payable in U.S. dollars.
For a prospective Buona franchisee, this clarification is important for financial planning and understanding the monetary commitments associated with the franchise agreement. It ensures that there is no ambiguity regarding the currency of transactions and financial obligations between the franchisee and Buona.
This definition helps to avoid potential disputes or misunderstandings related to currency exchange rates or the use of other currencies. Franchisees should ensure they have the capacity to manage their finances in U.S. dollars and understand any potential currency conversion costs if they operate from a different country.