What is the due date for the Insurance fee owed to Christies International Real Estate?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
| Fee (Note 1) | Amount (Note 2) | Due Date | Remarks |
|---|---|---|---|
| Insurance | Actual amount incurred | Upon demand | If you fail to purchase the insurance policies required under the License Agreement, we may purchase them on your behalf, and you will reimburse us. |
Source: Item 6 — OTHER FEES (FDD pages 14–17)
What This Means (2025 FDD)
According to Christies International Real Estate's 2025 Franchise Disclosure Document, if a franchisee fails to purchase the required insurance policies, Christies International Real Estate may purchase them on the franchisee's behalf. In this case, the insurance fee, which is the actual amount incurred by Christies International Real Estate, is due upon demand. This means that Christies International Real Estate can request reimbursement from the franchisee at any time after incurring the insurance expenses.
This arrangement places the onus on the franchisee to maintain the required insurance coverage. Failure to do so not only allows Christies International Real Estate to procure the insurance themselves but also necessitates prompt payment from the franchisee upon request. The 'upon demand' payment term provides Christies International Real Estate with flexibility in recouping these costs.
It is important for prospective Christies International Real Estate franchisees to understand the insurance requirements outlined in the License Agreement and to ensure they maintain adequate coverage to avoid incurring additional expenses and the risk of immediate payment demands from the franchisor.