When must the Franchisee furnish the Franchisor with proof of insurance and payment for a Southern Steer franchise?

According to Southern Steer's 2025 Franchise Disclosure Document, a franchisee must provide proof of insurance and payment to Southern Steer before opening their business. The franchisee is responsible for securing and maintaining insurance policies at their own expense throughout the Initial Term of the Franchise Agreement and any Interim Period. These policies must be with an insurance company acceptable to and approved by Southern Steer, licensed in the state where coverage is provided, and have an A.M. Best rating of at least A-VII.

The insurance policies must cover the franchisee, Southern Steer, and their respective affiliates, officers, stockholders, directors, and any other parties designated by Southern Steer as additional named insureds. The coverage must protect against any liability that may arise from the franchisee's ownership, maintenance, or operation of the Southern Steer Business.

Southern Steer also requires that the insurance policies stipulate a 30-day prior written notice of cancellation, non-renewal, or elimination to be provided to the franchisor. Additionally, the policies must include endorsements by the insurance companies waiving all rights of subrogation against Southern Steer. The franchisee must furnish original or duplicate copies of all insurance policies, certificates of insurance, or other proof of insurance acceptable to Southern Steer, including original endorsements, along with proof of payment, before opening the Southern Steer Business.