What does 'affiliate' mean in the context of the Christies International Real Estate franchise agreement?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
- 21.1. "affiliate" (lowercase) means an entity that is controlled by, or under common control with, another entity. "Affiliate" is defined in the Recitals.
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
According to the 2025 Christies International Real Estate Franchise Disclosure Document, the term "affiliate" (lowercase) refers to an entity that is controlled by, or under common control with, another entity. The document also notes that "Affiliate" is defined in the Recitals.
For a prospective franchisee, this definition is important because it clarifies the relationships between Christies International Real Estate and other businesses or entities. Understanding who Christies International Real Estate's affiliates are can provide insight into the broader network of companies that may influence or be influenced by the franchise system. This could include suppliers, service providers, or other related businesses.
The Christies International Real Estate FDD also includes a list of current Affiliates in Exhibit F. The FDD specifies that CHRISTIE'S INTERNATIONAL REAL ESTATE Affiliates that commenced operation prior December 1, 2021 operate under license agreements designated as "Participating Broker Agreements" or "PBAs," and that all independent CHRISTIE'S INTERNATIONAL REAL ESTATE licensees, or independent CHRISTIE'S INTERNATIONAL REAL ESTATE businesses, are referred to as "Affiliates."