What is the significance of including a 'Date' field in the Zoomin Groomin Personal Guaranty?
Zoomin_Groomin Franchise · 2025 FDDAnswer from 2025 FDD Document
ce of a duty to Franchisor and is for consideration.
Governing Law and Survival.
The validity, construction and performance of this Assignment is governed by the laws of the State in which we are located. All our rights survive the termination, expiration or nonrenewal of the Agreement and inure to our benefit and to the benefit of our successors and assigns.
| FRANCHISEE: | FRANCHISOR: | |
|---|---|---|
| By: | By: | |
| Signature: | Signature: Date: | #### Schedule 4-Personal Guaranty |
| Guarantor 2(Signature) | Printed Name | Date | |
|---|---|---|---|
| Guarantor 1(Signature) | Printed Name | Date | |
| Electronic signatures will be deemed valid Use of an electronic signature will be National Commerce Act ("E-Sign Act"), Uniform Electronic Transaction Act signifies the intent to be bound to the terms space provided below. | having the same legal as if it were consistent with the Electronic Title 15, United States Code, Sections ("UETA") and any applicable state of this Guaranty by affixing | physically executed. Signatures in Global and 7001 et seq., the law. Each Guarantor their signatures in the | |
| This | |||
| Guaranty | |||
| will | |||
| not | |||
| exceed | |||
| two | |||
| hundred | |||
| and | |||
| fifty | |||
| thousand | |||
| dollars | |||
| ($250,000) | |||
| except | |||
| for | |||
| damages | |||
| from | |||
| willful | |||
| wrongdoing, | |||
| such | |||
| as | |||
| trademark | |||
| infringement, | |||
| or | |||
| liquidated | |||
| monies | |||
| owed, | |||
| such | |||
| as | |||
| past-due | |||
| amounts, | |||
| and | |||
| will | |||
| remain | |||
| in | |||
| force | |||
| throughout | |||
| the | |||
| term | |||
| of | |||
| the | |||
| Beneficiary's | |||
| franchise | |||
| agreement, | |||
| including | |||
| any | |||
| renewal | |||
| or | |||
| extension. | |||
| Subsequent | |||
| agreements | |||
| and | |||
| credit | |||
| applications | |||
| will | |||
| not | |||
| serve | |||
| to | |||
| alter, | |||
| supersede | |||
| or | |||
| otherwise | |||
| modify | |||
| this | |||
| Personal | |||
| Guaranty. | |||
| This Guaranty will be a continuing and |
Source: Item 9 — 01. Financial Statements and Exhibits. (FDD pages 68–156)
What This Means (2025 FDD)
According to Zoomin Groomin's 2025 Franchise Disclosure Document, the 'Date' field in the Personal Guaranty is a crucial element for establishing the agreement's validity and enforceability. The inclusion of a date ensures that all parties—the guarantor, the franchisee, and Zoomin Groomin—are clear on when the guaranty becomes effective. This is a standard practice in legal documents to avoid ambiguity and potential disputes regarding the commencement of the guarantor's obligations. By dating the guaranty, Zoomin Groomin can accurately track and manage its financial risks associated with each franchise agreement.
The table included in the FDD shows the structure of the signature section for the guarantor(s), which includes fields for the signature, printed name, and date. Having a specific date associated with the signature of the guarantor(s) provides a clear record of when the personal guarantee was executed. This date can be critical in determining the enforceability of the guarantee, especially in cases where the timing of the signature relative to other events (such as the signing of the franchise agreement) is important.
Furthermore, the personal guaranty for Zoomin Groomin is limited to $250,000 except for damages from willful wrongdoing, such as trademark infringement, or liquidated monies owed, such as past-due amounts, and will remain in force throughout the term of the Beneficiary's franchise agreement, including any renewal or extension. The date on the guaranty helps to establish the period during which the guarantor is liable, tying it directly to the term of the franchise agreement. This ensures that the guaranty remains effective for the duration of the franchisee's operation under the Zoomin Groomin brand, providing continuous financial security for the franchisor.