What is the Cool Binz franchisor's name as it appears in the personal guaranty?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
n will effectuate FRANCHISEE'S consent and agreement to the change. The parties finally agree they will perform these acts and sign and deliver the documents as may be necessary to assist in or accomplish the transfer described herein, upon termination or expiration of the Franchise Agreement.
COOL BINZ INTERNATIONAL, LLC Name: Title: Date: ________________________________
EXHIBIT D TO THE FRANCHISE AGREEMENT
PERSONAL GUARANTY AND GUARANTY OF SPOUSES
NOTE: IF FRANCHISEE IS A CORPORATION, EACH OF FRANCHISEE'S SHAREHOLDERS AND THEIR SPOUSES MUST EXECUTE THE FOLLOWING UNDERTAKING.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to the 2025 Cool Binz Franchise Disclosure Document, the name of the franchisor as it appears in the personal guaranty is COOL BINZ INTERNATIONAL, LLC.
Exhibit D of the franchise agreement outlines the personal guaranty and guaranty of spouses. If the franchisee is a corporation, each shareholder and their spouses must execute the undertaking. Similarly, if the franchisee is a partnership, each general partner and their spouses must execute the undertaking. For a limited liability company, each member, manager, and their spouses must execute the undertaking.
This requirement ensures that individuals with a significant stake in the franchisee's business are personally liable for the franchisee's obligations to Cool Binz. This is a common practice in franchising, as it provides the franchisor with additional security and recourse in case of default or breach of contract by the franchisee. Prospective franchisees should carefully review the personal guaranty and understand the full extent of their obligations before signing the franchise agreement.