What is the guarantor asserting they have done regarding the covenants in the Face Foundrie Franchise Agreement?
Face_Foundrie Franchise · 2025 FDDAnswer from 2025 FDD Document
The undersigned hereby acknowledges and expressly agrees to be personally bound by all of the covenants contained in the Agreement, including, without limitation, those covenants contained in Sections 7, 11, 13, 14, 18, and 19. Signature by the undersigned on this Guaranty constitutes the undersigned's signature on the Agreement related to all covenants. The undersigned asserts that he or she has read such covenants, been advised by counsel regarding their effect, and hereby affirmatively agree to them in order to secure the rights granted to Franchisee by Franchisor under the Agreement. The undersigned further acknowledges and agrees that this Guaranty does not grant the undersigned any right to use the "Face Foundrié" marks or system licensed to Franchisee under the Agreement.
Source: Item 22 — CONTRACTS (FDD pages 73–74)
What This Means (2025 FDD)
According to Face Foundrie's 2025 Franchise Disclosure Document, the guarantor asserts they have taken specific actions concerning the covenants within the Franchise Agreement. The guarantor acknowledges being personally bound by all covenants in the agreement, specifically referencing sections 7, 11, 13, 14, 18, and 19.
Furthermore, the guarantor asserts that they have read these covenants and have been advised by legal counsel regarding their implications. By signing the guaranty, the guarantor affirmatively agrees to these covenants to secure the rights granted to the franchisee by Face Foundrie under the Franchise Agreement. However, the guarantor also acknowledges that the guaranty does not grant them any rights to use the Face Foundrie marks or system licensed to the franchisee.
This arrangement ensures that Face Foundrie has an additional layer of security, as the guarantor is personally committed to ensuring the franchisee adheres to the terms of the agreement. This is a common practice in franchising, especially when the franchisee is a corporate entity, to ensure individual accountability. The guarantor's acknowledgment of having read and understood the covenants, with legal counsel, further strengthens the enforceability of the agreement and reduces the potential for future disputes.