What information must each Certificate of Insurance submitted by a Crave tenant include?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
Tenant shall submit to Landlord a Certificate of Insurance for each insurance policy required under this document naming "Wal-Mart Stores, Inc., Attn: Asset Management, 2001 S.E. 10th Street, Bentonville, AR 72716-5525" as the Certificate Holder Additionally, each Certificate of Insurance must: (1) Be submitted to Landlord at the address provided in the preceding sentence; (2) Show the name and address of the Insurer; (3) Show the policy number and date(s) of coverage for each policy procured by Tenant in satisfaction of its obligations under this Lease; (4) Include the name, address, telephone number, and signature of the authorized person providing the Certificate of Insurance; (5) Verify the insurance coverage required in this document; (6) Where permitted by law, list as Additional Insureds Wal-Mart Stores, Inc., its Subsidiaries and its Affiliates, and the directors, officers, shareholders, employees, agents, and representatives, and the respective successors and assigns of each, and any party that Landlord has a contractual obligation to indemnify in relation to Tenant's use of the applicable Leased Premises; (7) Verify that Insurer waives subrogation in favor of Landlord and Landlord's affiliates and subsidiaries; (8) Verify the insurance policies are primary, non-contributory, and not in excess of any insurance the Additional Insured has available to it; and (9) Where permitted by law, provide coverage for punitive damages.
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, each Certificate of Insurance must include specific details to ensure adequate coverage and protection for all involved parties. The certificate must be submitted to the Landlord at the address "Wal-Mart Stores, Inc., Attn: Asset Management, 2001 S.E. 10th Street, Bentonville, AR 72716-5525".
Specifically, the Certificate of Insurance must show the name and address of the insurer, the policy number, and the dates of coverage for each policy. It must also include the name, address, telephone number, and signature of the authorized person providing the certificate. The certificate needs to verify the insurance coverage required in the lease agreement.
Additionally, where permitted by law, the certificate must list Wal-Mart Stores, Inc., its Subsidiaries and its Affiliates, and their respective directors, officers, shareholders, employees, agents, and representatives, as Additional Insureds. It must also verify that the insurer waives subrogation in favor of the Landlord and Landlord's affiliates and subsidiaries, and that the insurance policies are primary, non-contributory, and not in excess of any insurance the Additional Insured has available. Finally, where permitted by law, the certificate must provide coverage for punitive damages.