Where in the Engel & Volkers Franchise Agreement can I find the provisions for renewal, termination, transfer and dispute resolution?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Provision | Section in Franchise Agreement | Summary |
|---|---|---|
| a. Length of the franchise | §19.1 | 10 years |
| term | ||
| b. Renewal or extension of | §§19.2, 19.3 | 1 period of 10 years |
| the term | ||
| c. Requirements for franchisee to renew or extend | §§19.2, 19.3 | Serve written notice on us at least 6 mopnths before expiration of current term, comply with all provisions of Franchise Agreement and other agreements with us, sign the then current form of Franchise Agreement, sign a general release and pay a renewal fee. You may be asked to sign a contract with materially different terms and conditions than your original contract. |
| d. Termination by | §20.1 | You may not terminate or cancel the Franchise |
| franchisee | Agreement. This provision is subject to state law. | |
| e. Termination by franchisor without cause | §§4.8 | We can terminate upon written notice to you if we lose our rights to use the Engel & Völkers System and Trademarks. |
| f. Termination by franchisor with cause | §§20.2 – 20.4, | We can only terminate if you default, except if we lose our rights to use the Engel & Völkers System and Trademarks. |
| Provision | Section in | Summary |
| Franchise | ||
| Agreement | ||
| --- | --- | --- |
| w. Choice of law | §26.1 §8.3, Appendix 2 | New York law applies. For sales of goods and services by us, New York law applies. For sales of goods and services by E&V Residential or its affiliates based in Germany, German law applies. This provision may be subject to state law. |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER, AND DISPUTE RESOLUTION (FDD pages 63–71)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, Item 17 provides a summary of provisions related to renewal, termination, transfer, and dispute resolution, and indicates the specific sections within the Franchise Agreement where these provisions are detailed.
Specifically, the length of the franchise term is outlined in Section 19.1, while the conditions for renewal or extension are found in Sections 19.2 and 19.3. Termination provisions, including termination by the franchisee and by Engel & Volkers with or without cause, are detailed in Sections 20.1, 4.8, and 20.2-20.4. The choice of law is addressed in Section 26.1, Section 8.3, and Appendix 2.
It is important for a prospective Engel & Volkers franchisee to carefully review these sections within the Franchise Agreement to fully understand their rights and obligations regarding the franchise term, renewal options, termination conditions, transferability, and dispute resolution processes. Note that some provisions may be subject to state law, potentially modifying the terms of the agreement depending on the franchisee's location.