Canada Guarantee and Indemnification by Franchisee
Bad things happen when a franchisee can't meet its obligations. That's why you need to get your franchisees to sign this Guarantee and Indemnification.
- This is a Canadian legal form.
- A principal of the franchisee company guarantees the franchisee's obligations and payment of all amounts payable under the Franchise Agreement.
- The franchisee company indemnifies the franchisor against losses or claims arising as a result of any default on the part of the franchisee.
- The franchisee also acknowledges and agrees to be bound by its covenants as set out in the Franchise Agreement.
Requiring all franchisees to execute a Guarantee and Indemnification gives you legal recourse if a franchisee goes under or can't perform its obligations. You can download the form immediately after purchase.
Last Updated: 14-April-2016