What is the definition of 'Certificates of Insurance' in the context of the Big Air Trampoline Park franchise agreement?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
12.1 Franchisee shall, upon commencement of the Term, purchase and at all times maintain in full force and effect:
(a) Insurance policies, in such amounts and on such terms, as prescribed by the Operations Manual, issued by an insurance company acceptable to Franchisor at all times during the Term of this Agreement and any Successor Terms.
Insurance coverage must include, but is not limited to, comprehensive general liability, combined single limit, automobile, bodily injury and all-risk property damage insurance and all other occurrences against claims of any person, employee, customer, agent or otherwise in an amount per occurrence of not less than such amount set forth in the Operations Manual and adjusted by Franchisor periodically in Franchisor's sole discretion, unemployment and workers compensation insurance and any other additional insurance required by the terms of any Lease or lender for the Big Air Trampoline Business.
- 3.4 As additional conditions to renewal, in Franchisor's sole discretion, Franchisee may be required to:
- (g) Provide proof of current licenses, insurance and permits.
Source: Item 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to the 2025 FDD, Big Air Trampoline Park requires franchisees to maintain insurance policies throughout the term of the agreement and any successor terms. These policies must be issued by an insurance company acceptable to Big Air Trampoline Park.
The required insurance coverage includes, but is not limited to, comprehensive general liability, combined single limit, automobile, bodily injury, and all-risk property damage insurance. The coverage must protect against claims from any person, employee, customer, or agent. The minimum amount per occurrence is set forth in the Operations Manual and can be adjusted by Big Air Trampoline Park periodically at its discretion. Additionally, franchisees must maintain unemployment and workers' compensation insurance, as well as any other insurance required by the terms of any lease or lender for the Big Air Trampoline Business.
During the renewal of the franchise agreement, Big Air Trampoline Park may require franchisees to provide proof of current licenses, insurance, and permits as an additional condition for renewal. This ensures that franchisees continue to meet the necessary insurance requirements to operate their Big Air Trampoline Park business.