When is the insurance fee due for a Crawlspace Medic franchise?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Fee 1 | Amount | Due Date | Remarks |
|---|---|---|---|
| Insurance | Amount paid by us for your insurance obligations | As incurred | You must reimburse us for any insurance costs and other fees we incur due to your failure to meet the insurance obligations required by the Franchise Agreement. |
Source: Item 6 — OTHER FEES (FDD pages 10–16)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the insurance fee is due 'as incurred.' The amount of the fee is the amount paid by Crawlspace Medic for the franchisee's insurance obligations.
Specifically, the franchisee must reimburse Crawlspace Medic for any insurance costs and other fees incurred if the franchisee fails to meet the insurance obligations required by the Franchise Agreement. This means that the franchisee is responsible for ensuring they meet all insurance requirements outlined in the agreement.
This arrangement implies that Crawlspace Medic may initially cover the franchisee's insurance obligations and then seek reimbursement. It is crucial for a prospective franchisee to understand the exact insurance obligations detailed in the Franchise Agreement to avoid incurring additional costs or failing to meet the requirements.