What is the deadline for providing notice to Christies International Real Estate for renewal of the license agreement?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
- 2.2. Renewal. You will have the right to renew the rights granted under this Agreement for one (1) additional term of ten (10) years, provided the following conditions are met:
- (c) you have given us written notice of your intention to renew at least 365 days before the end of the then-existing term of this Agreement;
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 43–47)
What This Means (2025 FDD)
According to Christies International Real Estate's 2025 Franchise Disclosure Document, a franchisee who intends to renew their license agreement must provide written notice to Christies International Real Estate at least 365 days before the end of the current term. The initial term of the agreement is ten years, and the renewal term is for an additional ten years.
This requirement ensures that Christies International Real Estate has ample time to assess the franchisee's eligibility for renewal and to plan for the future of the franchise network. Meeting the deadline is crucial, as failure to provide timely notice could result in the franchisee losing the opportunity to renew their license.
In addition to providing timely notice, the franchisee must also meet several other conditions to qualify for renewal. These conditions include meeting Christies International Real Estate's then-current standards for new affiliates, being in compliance with all provisions of the agreement, paying a renewal fee of $1,000 at least six months before the term expires, signing the then-current affiliate license agreement, and signing a general release of all claims against Christies International Real Estate.