What is Attachment C to the Southern Steer franchise agreement?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
If Franchisee is a corporation, partnership, limited liability company, or other entity, or in the future become a corporation, partnership, limited liability company, or other entity, Franchisor will require Franchisee's officers, directors, shareholders, partners, members, managers, owners, and owner's spouses or domestic partners to sign the Personal Guaranty attached hereto as Attachment C.
Source: Item 22 — ITEM. 22 CONTRACTS (FDD pages 61–168)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, Attachment C to the franchise agreement is the Personal Guaranty. This document is significant because it requires the personal commitment of the franchisee's owners to guarantee the obligations of the franchise entity.
Specifically, if the franchisee is a corporation, partnership, limited liability company, or other entity, Southern Steer requires the officers, directors, shareholders, partners, members, managers, owners, and their spouses or domestic partners to sign this Personal Guaranty. This ensures that the franchisor has recourse to the personal assets of these individuals if the franchise business fails to meet its financial or contractual obligations.
This requirement is a common practice in franchising, as it provides an additional layer of security for the franchisor. Prospective Southern Steer franchisees should carefully review the terms of the Personal Guaranty with legal counsel to fully understand the extent of their personal liability. They should also consider the financial implications and risks associated with providing such a guarantee.