Is the Insurance Fee payable by a Bevaris Alliance franchisee, and under what condition?
Bevaris_Alliance Franchise · 2024 FDDAnswer from 2024 FDD Document
| PAYING OTHER FEES11 | | Annual Meeting ◀11 | | Transfer Fee ◀11 | | Renewal Fee ◀11 | | Late Payment Fee 411 | | Interest <11 | | Management Fee ◀12 | | Technology Fee ◀12 | | Costs and Attorneys' Fees ◀12 | | Insurance Fees ◀12 | | Technology Maintenance and Upgrades ◀12 | | Mystery Shopper Fee ◀12 | | Indemnification ◀13
Source: Item 23 — RECEIPT (FDD pages 22–88)
What This Means (2024 FDD)
According to the 2024 Bevaris Alliance Franchise Disclosure Document, franchisees are responsible for paying Insurance Fees. This is indicated in a list of franchisee responsibilities that includes 'Insurance Fees.' While the excerpt confirms that this fee exists, the FDD does not specify the amount of the fee, how it is calculated, or when it is payable.
As the FDD excerpt only mentions the existence of 'Insurance Fees' as a franchisee responsibility, prospective franchisees should seek clarification from Bevaris Alliance regarding the specifics of this fee. Understanding the amount, payment schedule, and coverage details of the required insurance is crucial for accurate financial planning.
Without further details in the provided documentation, it is impossible to determine the full financial impact of insurance requirements on a Bevaris Alliance franchise. It is common practice for franchisors to outline insurance requirements in detail within the FDD, so the absence of this information is a notable gap.