What is Attachment 3 to the Crown Gold Exchange Franchise Agreement?

According to the 2024 Crown Gold Exchange Franchise Disclosure Document, Attachment 3 to the Franchise Agreement is the Guaranty and Non-Compete Agreement. This agreement is executed by each person, known as the Guarantor, in favor of Goldmember, LLC, which is doing business as Crown Gold Franchising.

The Guaranty and Non-Compete Agreement ensures that if the franchisee is an entity, each owner must sign a personal guarantee of the franchisee's obligations to Crown Gold Franchising. This protects Crown Gold Exchange by holding the owners of the franchisee business personally liable for the financial and contractual obligations of the franchise.

Furthermore, the agreement includes non-compete clauses that restrict the Guarantor from engaging in any competitive business during the term of the Franchise Agreement and for two years after the agreement expires or is terminated. This restriction applies within five miles of the franchisee's territory or the territory of any other Crown Gold Exchange business operating on the date of termination or transfer. If the territory is not yet determined, the non-competition area will be the Development Area and the territory of any other Crown Gold Exchange business.