According to the 2025 Cool Binz Franchise Disclosure Document, if the franchisee is a corporation, partnership, or limited liability company, the spouses of the shareholders, general partners, members, and managers are required to execute a personal guaranty.

Exhibit D to the franchise agreement is titled "PERSONAL GUARANTY AND GUARANTY OF SPOUSES." The document explicitly states that if the franchisee is a corporation, each of the franchisee's shareholders and their spouses must execute the undertaking. Similarly, if the franchisee is a partnership, each of the franchisee's general partners and their spouses must execute the undertaking. The same requirement applies if the franchisee is a limited liability company, where each of the franchisee's members and managers and their spouses must execute the undertaking.

This requirement ensures that Cool Binz has recourse to the personal assets of these individuals and their spouses in the event of a default by the franchisee. This is a common practice in franchising, as it provides the franchisor with additional security and demonstrates the owners' commitment to the business. Prospective franchisees should carefully consider this obligation and discuss it with their spouses and legal counsel before entering into a franchise agreement with Cool Binz.