How often must Craters & Freighters franchisees furnish certificates and endorsements evidencing insurance coverage?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
g original endorsements affecting the coverage required by this Section, must be furnished to Franchisor together with proof of payment within ten (10) days of issuance thereof. Franchisee must also furnish Franchisor with certificates and endorsements evidencing such insurance coverage within ten (10) days after each of the following events: (i) at all policy renewal periods, no less often than annually, and (ii) at all instances of any change to, addition to, or replacement of any insurance. The certificates and endorsements for each insurance policy are to be signed by a person authorized by that insurer to
bind coverage on its behalf.
Source: Item 22 — CONTRACTS (FDD pages 49–50)
What This Means (2025 FDD)
According to Craters & Freighters' 2025 Franchise Disclosure Document, franchisees must furnish certificates and endorsements evidencing insurance coverage to Craters & Freighters within ten days after specific events. These events include policy renewal periods, which occur no less often than annually.
Additionally, franchisees must provide these certificates and endorsements within ten days of any change to, addition to, or replacement of any insurance policies. This ensures that Craters & Freighters remains informed about the franchisee's insurance coverage status and any modifications made to it.
The certificates and endorsements for each insurance policy must be signed by a person authorized by the insurer to bind coverage on its behalf, and are subject to Craters & Freighters' approval. Craters & Freighters also reserves the right to request complete, certified copies of all required insurance policies at any time, allowing them to verify coverage details directly with the insurer if necessary.