In the Cinch I.T. Guaranty Agreement, what phrase precedes the witness signature?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
f of facts, court costs, filing fees, other litigation expenses
- and travel and living expenses, whether incurred prior to, in preparation for, or in contemplation of the filing of any written demand, claim, action, hearing or proceeding to enforce this Guaranty Agreement;
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- Guarantor acknowledges that he or she has obtained independent legal advice before signing this Guaranty Agreement.
| | IN WITNESS WHEREOF Guarantor has signed this Guaranty Agreement under seal.
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
According to Cinch I.T.'s 2024 Franchise Disclosure Document, the phrase that precedes the witness signature in the Guaranty Agreement is: "Signed, sealed and delivered by the above-named Guarantor in the presence of:".
This indicates that the guarantor's signature must be formally witnessed. The presence of a witness adds a layer of legal validity to the agreement, confirming that the guarantor signed the document willingly and knowingly. This is a standard practice in contracts to prevent future disputes over the authenticity of the signature.
Prospective Cinch I.T. franchisees should ensure they understand the implications of the Guaranty Agreement and that they have a witness present when signing the document. The witness should be a neutral third party who can attest to the signing. The witness will also need to provide their signature and printed name.