Does an amendment of the Chocolate Fish Coffee Franchise Agreement affect the Guarantor's liability?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
Guarantor agrees that Guarantor's liability hereunder shall not be diminished, relieved or otherwise affected by (a) any amendment of the Franchise Agreement, (b) any extension of time, credit or other indulgence which Chocolate Fish Franchising may from time-to-time grant to Franchisee or to any other person or entity, or (c) the acceptance of any partial payment or performance or the compromise or release of any claims.
Source: Item 23 — RECEIPTS (FDD pages 41–119)
What This Means (2024 FDD)
According to the 2024 Chocolate Fish Coffee Franchise Disclosure Document, an amendment to the Franchise Agreement does not diminish, relieve, or otherwise affect the Guarantor's liability. The Guarantor's liability remains intact regardless of any changes made to the Franchise Agreement.
Specifically, the Guarantor's liability is not affected by any extension of time, credit, or other indulgence that Chocolate Fish Coffee may grant to the franchisee or any other person or entity. This means that even if Chocolate Fish Coffee provides the franchisee with more lenient terms or additional time to meet their obligations, the Guarantor's responsibility to ensure the franchisee's performance remains unchanged.
Furthermore, the Guarantor's liability is not affected by the acceptance of any partial payment or performance, or the compromise or release of any claims. Even if Chocolate Fish Coffee agrees to accept less than the full amount owed or releases the franchisee from certain obligations, the Guarantor is still fully liable for the franchisee's remaining obligations under the Franchise Agreement. This provision protects Chocolate Fish Coffee by ensuring that the Guarantor remains fully accountable for the franchisee's performance, regardless of any modifications or concessions made in the Franchise Agreement.