Does the Christies International Real Estate renewal agreement require a general release from the franchisee?
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:
- (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.
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 43–47)
What This Means (2025 FDD)
According to the 2025 Christies International Real Estate Franchise Disclosure Document, franchisees must sign a general release as part of the renewal process. Specifically, the franchisee and each Principal Owner must sign a general release in a form acceptable to Christies International Real Estate. This release covers all claims against Christies International Real Estate, its affiliates, officers, directors, employees, and agents.
This requirement means that as a condition of renewing their franchise agreement for an additional ten-year term, franchisees must waive their rights to pursue any existing or future legal claims against Christies International Real Estate. This is a significant consideration for prospective franchisees, as it limits their legal recourse against the franchisor.
Such a requirement is not uncommon in franchise agreements, as franchisors often seek to avoid potential future litigation. However, franchisees should carefully consider the implications of signing such a release and consult with an attorney to understand their rights and obligations. Franchisees should also consider whether they have any known or potential claims against Christies International Real Estate before agreeing to the release, as signing it would effectively forfeit those claims.