Is the Engel & Volkers Administrative Location Addendum considered part of the Franchise Agreement?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
- 8. Effectiveness of Agreement. This Administrative Location Addendum is an amendment to and forms an integral part of the FA. To the extent not amended herein, all other terms and conditions of the FA shall remain in full force and effect. No references to the amendments contained herein need be made in any instrument or document at any time referring to the FA and any such reference is deemed to be a reference to the FA as amended by this Administrative Location Addendum.
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the Administrative Location Addendum is indeed considered an integral part of the Franchise Agreement (FA). Specifically, the Administrative Location Addendum serves as an amendment to the existing FA. This addendum is used when a franchisee wants to operate an additional location within their protected area strictly for administrative and support functions.
The Engel & Volkers Administrative Location Addendum outlines specific conditions and limitations for this additional location. For instance, the addendum clarifies that the administrative location doesn't replace the franchisee's obligation to maintain an approved location as defined in the original FA. Furthermore, the franchisee needs to get written consent from Engel & Volkers to relocate the administrative location.
This addendum also emphasizes confidentiality, stating that franchisees must keep the existence and provisions of the Administrative Location Addendum confidential, disclosing it only to advisors when necessary. Breaching this confidentiality can render the addendum void at Engel & Volkers' discretion. The addendum ensures that all other terms and conditions of the original FA remain in effect, except as specifically amended by the addendum itself.