When must a Remax franchisee furnish a copy of the certificate or other evidence of procurement, renewal, or extension of each required insurance policy?
Remax Franchise · 2025 FDDAnswer from 2025 FDD Document
You must furnish to us—or our designee—a copy of the certificate of or other evidence of the procurement, renewal or extension of each above referenced insurance policy at least 30 days prior to the effective date of such procurement, renewal or extension and thereafter annually or at our or our designee's request. The insurance certificate must show compliance with all required insurance specifications. Should we use a third-party vendor or other designee to track certificates of insurance, you agree to provide each required certificate of insurance directly to such vendor or designee.
Source: Item 22 — Contracts (FDD pages 108–334)
What This Means (2025 FDD)
According to Remax's 2025 Franchise Disclosure Document, a franchisee must provide evidence of required insurance policies at least 30 days prior to the effective date of the procurement, renewal, or extension of the policy. Following this initial submission, the franchisee must provide updated certificates annually or upon Remax's request.
This requirement ensures that Remax franchisees maintain continuous and adequate insurance coverage, protecting both the franchisee and the Remax brand from potential liabilities. The 30-day advance notice allows Remax or its designee sufficient time to review the insurance policies and confirm compliance with the required specifications.
Franchisees must ensure that their insurance certificates demonstrate compliance with all required insurance specifications. Remax may use a third-party vendor to track these certificates, in which case franchisees are responsible for providing the certificates directly to the vendor. Failure to comply with these insurance requirements constitutes a material breach of the Franchise Agreement and may lead to termination of the agreement.