Washington Franchisor Surety Bond is a type of surety bond required by the Washington State Department of Revenue to protect franchisees from unfair or fraudulent practices by franchisors. It is designed to protect franchisees from any financial losses incurred as a result of a franchisor’s failure to fulfill its contractual obligations. This bond is required for all franchisors operating in the state of Washington and is an important part of protecting franchisees from unfair or fraudulent practices. There are three types of Washington Franchisor Surety Bonds: 1. The New Franchisee Surety Bond: This bond guarantees the performance of franchisor obligations specified in the franchise agreement. The bond is issued in the amount of the total franchise fee due to the franchisor, up to a maximum of $50,000. 2. The Renewal Franchisee Surety Bond: This bond guarantees the performance of franchisor obligations specified in the franchise agreement. The bond is issued in the amount of the total franchise fee due to the franchisor, up to a maximum of $25,000. 3. The Master Franchisee Surety Bond: This bond guarantees the performance of franchisor obligations specified in the franchise agreement. The bond is issued in the amount of the total franchise fee due to the franchisor, up to a maximum of $100,000.
Washington Franchisor Surety Bond
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