Under the Pearce Bespoke Guaranty, is the undersigned's liability joint and several with other signatories?

According to the 2025 Pearce Bespoke Franchise Disclosure Document, the undersigned's liability under the Guaranty is joint and several with all signatories to similar guaranties of the franchisee's obligations. This is explicitly stated in Item 22, which covers contracts related to the franchise agreement.

In practical terms, this means that if a franchisee fails to meet their financial or performance obligations under the Franchise Agreement, Pearce Bespoke can seek recourse from any one or all of the individuals who signed the Personal Guaranty. Each signatory is responsible for the full amount of the franchisee's debt or obligation, regardless of the number of signatories. Pearce Bespoke is not required to pursue all guarantors equally or proportionally; they can choose to pursue the guarantor with the most accessible assets.

This clause is a significant risk for anyone signing the Personal Guaranty, as they could be held liable for the entire debt of the franchise even if other guarantors exist. It is crucial for potential franchisees and guarantors to fully understand the financial obligations of the franchise and the implications of this joint and several liability before signing any agreements. Consulting with a legal and financial advisor is highly recommended to assess the risks and potential liabilities associated with the Pearce Bespoke franchise opportunity.