What is the deadline for a Cool Binz franchisee to provide proof of insurance before attending Training?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
At least ten (10) days before attending Training, commencing the operation of the COOL BINZ Business, whenever a change is made to your policy, and before expiration of any insurance coverage, you must have your insurance provider send us a copy or certificate or other acceptable proof of such insurance.
All general liability insurance policies will name us, BELFOR Franchise Group, LLC, BELFOR USA Group Inc., and our designated affiliates, employees, officers and directors (the "Indemnified Parties") as additional insureds, and will contain no provision which in any way limits or reduces coverage for you if a claim is made by any one or more of the Indemnified Parties, and will extend to and provide indemnity for all obligations assumed by you and all items for which you are required to indemnify us, will be primary to and without right of contribution from any other insurance purchased by the Indemnified Parties, and will provide, by endorsement, that we receive at least 30 days' notice of any intent to cancel or materially alter any policy.
Source: Item 8 — RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES (FDD pages 31–34)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, a franchisee must provide proof of insurance to Cool Binz at least ten days before attending training. This proof can be in the form of a copy of the insurance certificate or another acceptable form of verification.
This requirement ensures that the franchisee has the necessary insurance coverage in place before commencing operations. The insurance policies must name BELFOR Franchise Group, LLC, BELFOR USA Group Inc., and their designated affiliates, employees, officers, and directors as additional insureds. This protects Cool Binz and its related entities from potential liabilities arising from the franchisee's business operations.
In addition to providing proof of insurance before training, a Cool Binz franchisee must also provide updated proof whenever changes are made to their insurance policy and before the expiration of any insurance coverage. This ongoing requirement ensures continuous coverage and compliance with Cool Binz's insurance standards throughout the term of the franchise agreement. The franchisee's insurance provider must also provide Cool Binz with at least 30 days' notice of any intent to cancel or materially alter any policy.