factual

In the Engel & Volkers General Release, who are the parties involved besides the Franchisee?

Engel_Volkers Franchise · 2025 FDD

Answer from 2025 FDD Document

NOW, THEREFORE, FOR GOOD AND VALUABLE CONSIDERATION, THE RECEIPT OF WHICH IS ACKNOWLEDGED, FRANCHISEE [AND OWNER EACH] AGREES AS FOLLOWS:

    1. General Release. Franchisee [and Owner each] hereby releases and forever discharges Engel & Völkers and affiliates and their respective officers, directors, owners, principals, managers, employees, successors and assigns (collectively the "Released Parties"), from any and all claims, demands, obligations, liabilities, actions, causes of action, suits, proceedings, controversies, disputes, agreements, promises, allegations, costs and expenses, at law or in equity, of every nature, character or description whatsoever, whether known or unknown, suspected or unsuspected or anticipated or unanticipated, which Franchisee [or Owner] ever had, now has, or may, shall or can hereafter have or acquire (collectively referred to as "Claims"). This Release includes, but is not limited to, all Claims arising out of, concerning, pertaining to or connected with the Franchise Agreement, any other agreement, tort, statutory violation, representation, nondisclosure, act, omission to act, fact, matter or thing whatsoever, occurring as of or prior to the date of this Release, so that after the date of this Release, [neither] Franchisee [nor Owner] shall have any Claim of any kind or nature whatsoever against the Released Parties, directly or indirectly, or by reason of any matter, cause, action, transaction or thing whatsoever done, said or omitted to have been done or said at any time prior to the date of this Release. [In Maryland, the general release provisions shall not apply to any liability under the Maryland Franchise Registration and Disclosure Law.] [In Washington, the general release provision shall not apply to any liability under the Washington Franchise Investment Protection Act and the rules adopted thereunder.]

Source: Item 22 — CONTRACTS (FDD page 88)

What This Means (2025 FDD)

According to Engel & Volkers's 2025 Franchise Disclosure Document, the General Release involves several parties in addition to the franchisee. The release specifically names Engel & Völkers and its affiliates, along with their respective officers, directors, owners, principals, managers, employees, successors, and assigns, collectively referred to as the "Released Parties."

Furthermore, the document indicates that the owner may also be a party to the General Release alongside the franchisee. This suggests that if the franchisee is an entity, the owner of that entity may also be required to sign the release. The General Release aims to discharge the Released Parties from any claims, demands, or liabilities the franchisee or owner may have.

It's important for prospective Engel & Volkers franchisees to carefully review the General Release and understand the scope of claims they are waiving. Franchisees should consult with legal counsel to fully grasp the implications of signing such a release, especially concerning potential future claims or disputes with Engel & Volkers.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.