Can the confidential information agreement with Engel & Volkers be amended without a written agreement?
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 between Engel & Volkers and the recipient (prospective franchisee) cannot be amended unless both parties execute a written agreement. This requirement ensures that any changes to the terms of the agreement are documented and agreed upon by both parties, preventing potential misunderstandings or disputes.
This provision is standard in franchise agreements and other legally binding documents. It protects both Engel & Volkers and the recipient by ensuring that any modifications to the confidentiality terms are made deliberately and with mutual consent. This clause provides clarity and legal certainty regarding the terms governing the disclosure and use of confidential information.
For a prospective Engel & Volkers franchisee, this means that any desired changes to the Confidentiality Agreement must be formally documented in writing and signed by both the franchisee and Engel & Volkers. Verbal agreements or informal understandings will not be sufficient to alter the terms of the agreement. This requirement underscores the importance of carefully reviewing and understanding the Confidentiality Agreement before signing it, as any subsequent changes will require a formal written amendment.