What is the initial term length for a Christies International Real Estate Affiliate Agreement?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
entified on Exhibit 1 of this Agreement (referred to as the "Minimum Performance Requirement(s)"). If you fail to satisfy any Minimum Performance Requirement during the term of this Agreement, we have the right to terminate this Agreement, or, in lieu of termination, modify or rescind any such territorial or protected rights.
2. TERM AND RENEWAL
- 2.1. Term. This Agreement will be effective for a ten (10) year term beginning on the Effective Date specified in this Agreement.
- 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:
- (a) we are still offering licenses or franchises under the Marks and System;
- (b) you meet our then-current standards for new CHRISTIE'S INTERNATIONAL REAL ESTATE Affiliates;
- (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;
- (d) you are in compliance with all provisions of this Agreement, including all monetary obligations you owe to us or our affiliates, throughout the term of this Agreement;
- (e) you have paid a renewal fee of $1,000 (the "Renewal Fee") to us at least six months before the then-existing term of this Agreement expires;
- (f) you sign our then-current broker Affiliate license agreement, which may contain conditions, terms, and fees that are materially different from those contained in this Agreement;
- (g) you and each Principal Owner sign a general release, in a form acceptable to us, of all claims against us and our affiliates, officers, directors, employees, and agents.
- 2.3. Non-Renewal. If you do not intend to renew your rights under this Agreement, you must provide us written notice of such at least 365 days before the expiration date of this Agreement. You must comply with all post-termination and post-expiration requirements under this Agreement beginning the date this Agreement expires.
- 2.4. Operating After Expiration. If you or your Principal Owners continue to use the Marks, and/or use the System after the expiration of this Agreement, you will be in default of this Agreement and
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 initial term for the Broker Affiliate License Agreement is ten years. This term begins on the effective date specified in the agreement.
Christies International Real Estate offers franchisees the option to renew their agreement for one additional term of ten years, provided certain conditions are met. These conditions include that Christies International Real Estate is still offering licenses or franchises, the franchisee meets the standards for new affiliates, written notice is given at least 365 days before the end of the current term, the franchisee is compliant with all agreement provisions, a renewal fee of $1,000 is paid at least six months before expiration, the franchisee signs the current affiliate license agreement, and both the franchisee and each principal owner sign a general release of claims against Christies International Real Estate.
If a franchisee does not wish to renew their agreement, they must provide written notice to Christies International Real Estate at least 365 days before the agreement's expiration. After the agreement expires, the franchisee must adhere to all post-termination and post-expiration requirements outlined in the agreement. Continued use of the Christies International Real Estate marks or system after expiration will result in a default, potentially leading to remedies such as royalty fees equivalent to the highest paid in the last 24 months for each month of operation after expiration.