Can the agreement regarding confidential information with Engel & Volkers be amended orally?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
This Agreement constitutes the entire agreement and understanding among the parties hereto with respect to the disclosure of Confidential Information to Recipient and Recipient's noncompetition obligations, and shall not be amended except pursuant to a written agreement executed by each of the parties hereto.
Source: Item 23 — RECEIPTS (FDD pages 88–302)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the confidentiality agreement regarding the disclosure of confidential information cannot be amended orally.
The FDD states that the agreement constitutes the entire understanding between the parties concerning the disclosure of confidential information and the recipient's noncompetition obligations. This means that all terms and conditions related to confidentiality are fully contained within the written agreement itself.
Specifically, the FDD states that the agreement "shall not be amended except pursuant to a written agreement executed by each of the parties hereto." This clause explicitly requires any changes or modifications to the confidentiality agreement to be formalized in writing and signed by all parties involved. This requirement ensures that all amendments are clearly documented and agreed upon, preventing potential disputes or misunderstandings regarding the terms of confidentiality. Prospective franchisees should be aware that any verbal agreements or promises made outside of the written agreement will not be considered valid or enforceable.