Where is the required Guaranty and Assumption of Obligations attached in the Canine Dimensions Franchise Agreement?
Canine_Dimensions Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 22: CONTRACTS]
4.7.5 Each owner of an interest in Franchisee must execute and return to Franchisor the "Guaranty and Assumption of Obligations," attached as "Schedule D."
ITEM 22 CONTRACTS
Attached to this Disclosure Document are the following contracts and their attachments:
Franchise Agreement – Exhibit C
Schedule A - Approved Location and Protected Territory
Schedule B - Mutual General Release
Schedule C - Non-Competition and Confidentiality Agreement
Schedule D - Guaranty and Assumption of Obligations
Source: Item 15 — OBLIGATION TO PARTICIPATE IN THE ACTUAL OPERATION OF THE FRANCHISED BUSINESS (FDD page 27)
What This Means (2025 FDD)
According to Canine Dimensions' 2025 Franchise Disclosure Document, the Guaranty and Assumption of Obligations is attached as Schedule D to the franchise agreement. Specifically, Item 22 lists the contracts attached to the disclosure document, including the franchise agreement as Exhibit C, and Schedule D as the Guaranty and Assumption of Obligations.
Furthermore, the FDD states that each owner of an interest in the franchisee must execute and return the "Guaranty and Assumption of Obligations," which is attached as "Schedule D." This requirement ensures that all individuals with a stake in the franchise are personally bound to uphold the obligations outlined in the franchise agreement.
Prospective franchisees should carefully review Schedule D and understand the implications of providing a personal guarantee. This document essentially makes the owner(s) personally liable for the franchise's debts and obligations, which is a common practice in franchising to ensure the franchisee's commitment and financial responsibility.