Does The Standardx require all parties to sign the same counterpart of the Guaranty for it to be valid?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
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- Counterparts. To facilitate execution, this Guaranty may be executed in as many counterparts as may be convenient or required. It shall not be necessary that the signature of, or on behalf of, each party, or that the signature of all persons required to bind any party, appear on each counterpart. All counterparts shall collectively constitute a single instrument. It shall not be necessary in making proof of this Guaranty to produce or account for more than a single counterpart containing the respective signatures of, or on behalf of, each of the parties hereto. Any signature page to any counterpart may be detached from such counterpart without impairing the legal effect of the signatures thereon and thereafter attached to another counterpart identical thereto except having attached to it additional signature pages.
Source: Item 18 — OTHER INCOME (LOSS), NET (FDD pages 187–399)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, it is not necessary for all parties to sign the same counterpart of the Guaranty for it to be valid. The Guaranty may be executed in multiple counterparts. All counterparts will collectively constitute a single instrument.
For a prospective franchisee, this means that the Guaranty agreement can be signed in separate parts, making the execution process more flexible and convenient. It allows for signatures to be collected from different locations or at different times without needing to circulate a single document.
Additionally, when proving the Guaranty, it is not required to produce every counterpart, only a single counterpart containing the signatures of each party. Any signature page can be detached from one counterpart and attached to another without affecting the legal validity of the signatures. This further simplifies the administrative aspects of managing the Guaranty agreement.