What is the name of the attachment containing the personal guarantee for the Southern Steer Franchise Agreement?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
(j) Each of the Franchisee's Owners will execute the Personal Guaranty attached hereto as Attachment C and the Non-competition and Non-Disclosure Agreement attached hereto as Attachment I-1; and
(f) Guaranty.
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 15 — ITEM. 15 OBLIGATION TO PARTICIPATE IN THE ACTUAL OPERATION OF THE FRANCHISE BUSINESS (FDD pages 41–42)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, the personal guarantee is included as Attachment C to the Franchise Agreement. This attachment requires the franchisee's owners to personally guarantee the franchisee's obligations under the Franchise Agreement.
Specifically, if the franchisee is a corporation, partnership, limited liability company, or other entity, Southern Steer requires the franchisee's officers, directors, shareholders, partners, members, managers, owners, and owner's spouses or domestic partners to sign the Personal Guaranty attached as Attachment C.
Furthermore, each of the franchisee's owners must execute the Personal Guaranty attached as Attachment C. This means that prospective franchisees should carefully review Attachment C to understand the full scope of their personal obligations and liabilities under the Southern Steer Franchise Agreement.