According to the Chatime FDD, where are the Guarantors specified?
Chatime Franchise · 2025 FDDAnswer from 2025 FDD Document
xt year.
Exhibit B to the Franchise Disclosure Document CHATIME FRANCHISE AGREEMENT
Chatime Franchise Agreement (United States of America)
Parties: Chatime Franchise, LLC (Franchisor)
Franchisee specified in Schedule 1 (Franchisee)
Guarantors specified in Schedule 1 (Guarantor)
Contents
| 2 Grant of Rights and Development Obligations .99 3 Training and Operating Assistance .12 4 Franchisee's Operational Obligations .14 5 Other Obligations of Franchisee .18 6 Init
Source: Item 23 — Receipts (FDD pages 58–262)
What This Means (2025 FDD)
According to Chatime's 2025 Franchise Disclosure Document, the Guarantors are specified in Schedule 1 of both the Chatime Franchise Agreement and the Multi-Unit Development Agreement. This means that the specific individuals or entities acting as guarantors for the franchisee's or developer's obligations are listed in a separate schedule attached to these agreements.
For a prospective Chatime franchisee, this indicates that if they are required to have a guarantor, the identity of that guarantor will be formally documented in Schedule 1 of the Franchise Agreement. This schedule would outline the guarantor's responsibilities and the extent of their guarantee. Similarly, for a multi-unit developer, the guarantor's details would be found in Schedule 1 of the Multi-Unit Development Agreement.
It is important for both franchisees and multi-unit developers, as well as their guarantors, to carefully review Schedule 1 to fully understand the guarantor's obligations and liabilities under the respective agreements. This ensures clarity and avoids potential disputes regarding the scope and terms of the guarantee.