US franchisors, make sure your franchisees meet their obligations to you by obtaining a
Guaranty of Franchise Obligations from the principal(s) of the franchisee.
- The guarantor unconditionally guarantees the complete performance of the franchisee under the terms of the Franchise Agreement.
- The obligations of the guarantor are independent of the obligations of the franchisee.
- The Guaranty is enforceable against the guarantor and his/her personal representatives, successors and assigns, and the death of the guarantor will not terminate the liability of the guarantor.
- If the spouse of a franchisee signs as a guarantor, and the franchisee subsequently remarries, the new spouse must also sign.
This
USA Guaranty of Franchise Obligations template is available as a downloadable and fully editable MS Word document.
