Insurance of Liability
The franchiser, ___________, and the franchisee, _____________, as set forth in their franchise agreement on ___________ 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 ).