Does Engel & Volkers consider checks and bills of exchange as cash payments?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
For sales by any of the ENGEL & VÖLKERS Group of companies, the place of performance for delivery is the seller's registered head office in Hamburg, Germany. As far as these Terms of Sale and Supply do not contain specific regulations which provide for the contrary, the United Nations Convention on Contracts for the International Sales of Goods (1980) – CISG shall apply in addition. The place of performance for payment (also for bills of exchange and checks) and the place of jurisdiction for any disputes is Hamburg, Germany alone. The contractual relationship shall be subject to the laws of the Federal Republic of Germany.
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the place of performance for payment, including bills of exchange and checks, is Hamburg, Germany. This applies to sales by any of the Engel & Volkers Group of companies. This means that for these specific transactions, the legal and physical location where payment obligations are fulfilled is Hamburg.
For Engel & Volkers franchisees, this clause is important because it specifies where payments are legally considered to be made. If a franchisee is dealing directly with the Engel & Volkers Group of companies (as opposed to the Franchisor), any disputes related to payments, including those made via bills of exchange or checks, would be subject to the jurisdiction of Hamburg, Germany. This could have implications for legal proceedings and the applicable laws governing those payments.
This section of the FDD highlights the importance of understanding which entity the franchisee is transacting with (the Franchisor versus the Engel & Volkers Group) as it affects the legal framework and location governing financial transactions. Franchisees should be aware of this distinction to understand their obligations and rights regarding payments.