Who bears the expense of amending the Engel & Volkers System Documentation after notification of changes?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisor will advise Franchisee in writing or by electronic transmission of any amendments, additions to and/or deletions from or substitutions for the System Documentation. Franchisee hereby undertakes to make corresponding amendments to its versions of the System Documentation at its own expense as soon as practicable on receipt of notification of these amendments, and to comply with the requirements of the System Documentation as it may be revised from time to time.
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the franchisee is responsible for the expenses associated with amending their versions of the System Documentation upon receiving notification of changes from the franchisor. Engel & Volkers may modify the System Documentation at its discretion. Franchisees are then obligated to update their documentation accordingly.
This means that if Engel & Volkers updates its operational guidelines, software protocols, or any other aspect of the Engel & Volkers System documented, the franchisee must bear the cost of incorporating these changes into their own materials. This could involve reprinting documents, updating digital files, or retraining staff on new procedures. The franchisee must make these amendments as soon as practicable after receiving notice.
This requirement ensures that all Engel & Volkers franchises operate under the most current standards and practices. However, it also places a financial burden on the franchisee to keep pace with changes implemented by the franchisor. A prospective franchisee should factor in these potential costs when evaluating the overall investment and operational expenses of an Engel & Volkers franchise. It is also important to understand how frequently the System Documentation is updated and the typical costs associated with implementing these changes.