When must a Byrider franchisee provide Certificates of Insurance to the company?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
- 12.4 Proof of Insurance. The Franchisee shall promptly provide the Company with Certificates of Insurance evidencing such coverage no later than ten (10) days prior to the opening date of the Franchisee's Business.
The Franchisee shall deliver a complete copy of the Franchisee's insurance in force within thirty (30) days following the delivery of the Certificates of Insurance.
All insurance policies and documents shall be renewed, and upon such renewal, a renewal Certificate of Insurance shall be furnished to the Company prior to the expiration date of the existing term(s) of such policy(ies).
Source: Item 23 — Receipts (FDD pages 88–335)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, a franchisee must provide Certificates of Insurance to Byrider no later than ten days prior to the opening date of their business. Additionally, the franchisee must deliver a complete copy of their insurance policy within thirty days following the delivery of the Certificates of Insurance.
Furthermore, Byrider franchisees are obligated to renew all insurance policies and documents, furnishing Byrider with a renewal Certificate of Insurance before the expiration date of the existing policy terms. This ensures continuous coverage and compliance with Byrider's insurance requirements throughout the term of the franchise agreement.
These requirements are in place to ensure that Byrider and the franchisee are protected against potential insurable risks. Failure to comply with these insurance requirements can result in a breach of the franchise agreement, potentially leading to termination. Byrider retains the right to modify the minimum insurance coverage limits and may also require additional insurance coverages to reflect changes in circumstances such as inflation or new risks.