What is the Pearce Bespoke Franchising LLC required to file the surety bond with?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee will, at its expense, comply with all applicable local, state, federal, and municipal laws, ordinances, rules, and regulations pertaining to the operation of the Pearce Bespoke Franchise, including any and all licensing and bonding requirements. Such laws, rules, and regulations shall include, without limitation, the Americans with Disabilities Act ("ADA"), the Gramm-Leach-Bliley Act, the Fair Credit Reporting Act ("FCRA"), the Telephone Consumer Protection Act ("TCPA"), the Fair and Accurate Credit Transactions Act ("FACTA"), the National Automated Clearinghouse Association ("NACHA") and associated regulations (collectively "Privacy Laws"), licenses to do business, fictitious name registrations, sales and other tax permits, reporting and payment of all taxes, and any other requirement, rule, law or regulation applicable to Franchisee or in the jurisdiction of the Territory.
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, Pearce Bespoke franchisees are responsible for complying with all local, state, federal, and municipal laws, ordinances, rules, and regulations pertaining to the operation of their Pearce Bespoke franchise. This includes all licensing and bonding requirements.
This means that a Pearce Bespoke franchisee must obtain all necessary licenses and surety bonds required to operate their specific business in their chosen location. The FDD specifies that compliance extends to laws and regulations such as the Americans with Disabilities Act (ADA), the Gramm-Leach-Bliley Act, the Fair Credit Reporting Act (FCRA), the Telephone Consumer Protection Act (TCPA), the Fair and Accurate Credit Transactions Act (FACTA), the National Automated Clearinghouse Association (NACHA) and associated regulations (collectively "Privacy Laws"), licenses to do business, fictitious name registrations, sales and other tax permits, reporting and payment of all taxes, and any other requirement, rule, law or regulation applicable to Franchisee or in the jurisdiction of the Territory.
The responsibility for securing these bonds and licenses falls on the franchisee, and they must cover all costs associated with obtaining and maintaining them. This is a standard practice in franchising, where franchisees typically bear the responsibility for adhering to local regulations and securing the necessary permits and bonds to legally operate their business.