Under what section does Christies International Real Estate waive its right of first refusal?

Based on the 2025 Christies International Real Estate Franchise Disclosure Document, section 13.4 covers the waiver of bond. Specifically, if Christies International Real Estate brings a suit to enforce the agreement by injunctive relief, the franchisee agrees that no bond or other security is necessary. The franchisee waives any requirement that Christies International Real Estate post a bond to obtain a temporary, preliminary, or permanent injunction to enforce the duties set forth in the agreement.

In practical terms, this means that if Christies International Real Estate believes a franchisee is violating the franchise agreement and seeks a court order (injunction) to stop the violation, the franchisee cannot demand that Christies International Real Estate put up a bond. A bond is a sum of money a party may be required to deposit with the court, which could be forfeited if they lose the case and cause damages to the other party.

By waiving the bond requirement, the franchisee is potentially exposed to greater risk. If Christies International Real Estate obtains an injunction that later turns out to be unjustified, the franchisee may have limited recourse to recover losses suffered as a result of the injunction. This is a significant point for prospective franchisees to consider, as it could impact their financial exposure in the event of a dispute with Christies International Real Estate.