TITLE 14: COMMERCE
SUBTITLE A: REGULATION OF BUSINESS
CHAPTER II: ATTORNEY GENERAL
PART 200 FRANCHISE DISCLOSURE ACT
SECTION 200.APPENDIX D GUARANTY FORMS
Section 200.APPENDIX D Guaranty Forms
Section 200.ILLUSTRATION A Guaranty of Performance
For value received, ___(name of guarantor)___, located at ____(address)____, absolutely and unconditionally guarantees the performance by franchisor, __(name of franchisor)__, of all obligations under the Illinois Franchise Disclosure Act and Rules, and of all of the obligations of franchisor to furnish goods and/or services necessary to establish and open the business of franchisees to whom franchises are granted by franchisor pursuant to the registration of such franchises in the State of ______________ and the terms and conditions of its franchise and other agreements entered into after this date with franchisees under the jurisdiction of the Illinois Franchise Disclosure Act, as the same have been or may hereafter be amended, modified, renewed or extended from time to time. This guaranty shall continue in force until all such obligations of franchisor shall have been satisfied or until such liability of franchisor to such franchisees has been completely discharged, whichever first occurs. Guarantor shall not be discharged from liability hereunder as long as any such claim by a franchisee against franchisor remains outstanding. Notice of acceptance is waived. Notice of default on the part of franchisor is not waived. This guaranty shall be binding upon guarantor, its successors and assigns.
In witness whereof, guarantor has, by a duly authorized officer, executed this guarantee at______________, this _________ day of ______________, ______.
(Source: Amended at 23 Ill. Reg. 11561, effective September 7, 1999)