What is the Renewal Fee for a Christies International Real Estate Affiliate license agreement?
Christies_International_Real_Estate Franchise · 2025 FDDAnswer from 2025 FDD Document
m 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;
Source: Item 23 — RECEIPT (FDD pages 54–177)
What This Means (2025 FDD)
According to the 2025 Christies International Real Estate Franchise Disclosure Document, a franchisee has the right to renew their Affiliate license agreement for one additional term of ten years if certain conditions are met. One of these conditions is the payment of a renewal fee.
The Renewal Fee for a Christies International Real Estate affiliate license is $1,000. This fee must be paid to Christies International Real Estate at least six months before the expiration of the current agreement term.
In addition to the renewal fee, the franchisee must meet several other conditions to be eligible for renewal. These include being in compliance with all provisions of the existing agreement, meeting the then-current standards for new Christies International Real Estate Affiliates, and signing the then-current broker Affiliate license agreement, which may contain materially different terms and fees. The franchisee and each principal owner must also sign a general release of all claims against Christies International Real Estate.