Who must execute a written agreement to amend the confidential information agreement with Engel & Volkers?
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's 2025 Franchise Disclosure Document, the Confidentiality Agreement can only be amended through a written agreement. This written agreement must be executed by each of the parties involved in the original agreement.
For a prospective Engel & Volkers franchisee, this means that any changes to the confidentiality terms require the explicit written consent of all parties who initially signed the agreement. This protects both Engel & Volkers and the franchisee by ensuring that no unilateral changes can be made to the confidentiality obligations.
This requirement for mutual written consent to amendments is a standard practice in franchising, as it ensures that all parties are in agreement regarding any modifications to important contractual terms. It is important for a franchisee to carefully review and understand the terms of the Confidentiality Agreement before signing, as any future changes will require their explicit consent.