Who is the Engel & Volkers agreement binding upon?

According to Engel & Volkers' 2025 Franchise Disclosure Document, the franchise agreement is binding upon the parties involved and their respective heirs, administrators, successors, and assigns. This means that the obligations and benefits of the agreement extend not only to the original franchisee and franchisor but also to those who inherit their rights or take over their responsibilities. For example, if the franchisee passes away, their heirs would be bound by the terms of the agreement. Similarly, if the franchisor sells the company, the new owners would inherit the rights and obligations under the existing franchise agreements.

However, the document also clarifies that neither the Engel & Völkers Group nor its Parent company is a party to the agreement. The agreement is solely between the franchisee and the franchisor. Franchisees must look only to the franchisor for the performance of any obligations under the agreement. The Engel & Völkers Group, the Parent, E&V Marken and Grund Genug Verlag are each an intended third-party beneficiary of this Agreement.

Furthermore, the franchisee acknowledges that the Engel & Völkers Group and its Parent have no obligations to the franchisee under the agreement. The franchisee also agrees not to make any claims against the Engel & Völkers Group or its Parent arising from the franchisee's acquisition of the agreement or the franchisor's performance of its obligations. This separation is important for prospective franchisees to understand, as their contractual relationship is primarily with the franchisor, not the broader Engel & Völkers organization.