What is the due date for the Indemnification payment to Engel & Volkers?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Indemnification | You must indemnify us and other parties against all costs and expenses, including attorney’s fees, arising out of claims by third parties as a result of your actions or omissions | On demand | Payable to us or our affiliates and their respective directors, officers, employees or agents. |
Source: Item 6 — OTHER FEES (FDD pages 22–30)
What This Means (2025 FDD)
According to Engel & Volkers's 2025 Franchise Disclosure Document, the Indemnification fee is due 'On demand.' This means that Engel & Volkers franchisees are required to indemnify Engel & Volkers and other related parties against any costs and expenses, including attorney's fees, that arise from third-party claims resulting from the franchisee's actions or omissions.
This fee is payable to Engel & Volkers, its affiliates, and their respective directors, officers, employees, or agents. The 'on demand' due date indicates that Engel & Volkers can request this payment at any time such costs or expenses are incurred.
For a prospective Engel & Volkers franchisee, this signifies a potentially unpredictable financial obligation. Unlike fees with fixed due dates, the indemnification payment is contingent on specific events (third-party claims) and Engel & Volkers's decision to seek reimbursement. Franchisees should be aware of this open-ended liability and ensure they maintain adequate insurance and risk management practices to mitigate potential claims.