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Insurance Of Liability
The franchiser, ___________, and the franchisee, _____________, as set forth in their franchise agreement on this ____________ day of _____________ 20 __, and as witnessed by _________, have agreed to the following additional terms and conditions:
Franchisee must throughout lifetime of contractual agreement posses proof of liability insurance. This insurance shall be ______________________ (type coverage) and will be in place to benefit, not only the franchise and the franchisee, the franchiser. The amount of liability insurance will be __________________, as dictated within reason by the franchiser.
Franchisee also agrees as mandate by franchiser the following: ____________ insurance coverage.
Franchiser must be given copies of all such policies and policies may not be canceled by the franchisee without prior notification of at least _____ (days or weeks).
*** If Required By State Law ***
This Section for Notary:
State of _________
County of ________ [COUNTY]
On [DATE] before me, [NAME OF NOTARY], notary, personally appeared [NAME OF PERSON(S) INVOLVED], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
My commission expires: _____