Does the Engel & Volkers agreement specify the date on which the Confidentiality Agreement and Covenant Not to Compete is made?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
hereof. Purchaser agrees that Franchisor or its
affiliates may institute any action arising out of this agreement in the Supreme Court of the State of New York, New York County, or the United States District Court for the Southern District of New York, and Purchaser submits to the jurisdiction of such courts and waives any objection it may have to either the jurisdiction or venue of any such court.
10. Partial effectiveness
Should individual provisions of these Terms of Sale and Supply be or become invalid, then this shall not affect the validity of the remaining provisions.
CONFIDENTIALITY AGREEMENT AND COVENANT NOT TO COMPETE
CONFIDENTIALITY AGREEMENT AND COVENANT NOT TO COMPETE
| THIS CONFIDENTIALITY AGREEMENT AND COVENANT NOT TO COMPETE (this "Agreement"), dated,, is made in favor of ENGEL & VÖLKERSAMERICAS, INC., | |
|---|---|
| a Delaware corporation, with its principal office at 430 Park Avenue, 11th Floor, New York, NY 10022 | |
| ("Franchisor"), by | |
| , | |
| located | |
| at | |
| ("Recipient"). | |
| Recitals | |
| Franchisor has the right in the United States to grant franchise agreements to third parties to provide | |
| residential real estate brokerage services in connection with the sale and leasing of residential properties | |
| using the Engel & Völkers System and the trademark "Engel & Völkers" ("Engel & Völkers Residential | |
| Real Estate Brokerage"). | |
| On | |
| , | |
| , Franchisor and | |
| ("Franchisee") entered into a Franchise Agreement to operate an Engel & Völkers | |
| Residential Real Estate Brokerage at an Approved Location ("Franchise Agreement"). Recipient is either | |
| a Principal of Franchisee, or one of Franchisee's shareholders, partners, members, officers, directors or | |
| managers. |
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to the 2025 Engel & Volkers Franchise Disclosure Document, the Confidentiality Agreement and Covenant Not to Compete includes a space for the date. The agreement states, "THIS CONFIDENTIALITY AGREEMENT AND COVENANT NOT TO COMPETE (this "Agreement"), dated, , is made in favor of ENGEL & VÖLKERSAMERICAS, INC." This indicates that the agreement is intended to be dated when it is made.
This is a standard practice in franchising, as it clearly establishes when the confidentiality and non-compete obligations begin. The agreement is made between Engel & Volkers Americas, Inc. and the Recipient, who is either a Principal of the Franchisee, or one of Franchisee's shareholders, partners, members, officers, directors or managers. The agreement is put in place because Engel & Volkers will provide confidential information to the Franchisee, but only if the Franchisee and its Principals agree to the Confidentiality Agreement.
It is important for the franchisee to ensure that the date is accurately recorded on the agreement to avoid any potential disputes regarding the effective period of the confidentiality and non-compete obligations. The franchisee should also understand the implications of breaching the confidentiality undertakings, as it is grounds for termination of the Franchise Agreement.