What are the insurance obligations for a Golden Krust Caribbean Restaurant franchisee, and where are they detailed in the Franchise Agreement?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
in these agreements and in other items of this disclosure document.**
| OBLIGATION | SECTION IN FRANCHISE AGREEMENT | DISCLOSURE DOCUMENT ITEM |
|---|---|---|
| (a) Site Selection and | II | Items 7 and 11 |
| acquisition/lease | ||
| (b) Pre-opening purchases/leases | II |
Source: Item 9 — FRANCHISEE'S OBLIGATIONS (FDD pages 16–18)
What This Means (2024 FDD)
According to Golden Krust Caribbean Restaurant's 2024 Franchise Disclosure Document, franchisees have specific insurance obligations that are outlined in the Franchise Agreement. The table provided in Item 9 of the FDD cross-references these obligations to particular sections within the agreement.
Specifically, the insurance requirements are detailed in Sections II.E(4) and VIII.A(12) of the Franchise Agreement. Further details regarding insurance can be found in Items 7 and 8 of the Franchise Disclosure Document.
Prospective franchisees should carefully review these sections to understand the types and amounts of insurance coverage they must maintain throughout the term of their franchise agreement. This will help them to budget for these costs and ensure they remain in compliance with the franchise agreement.