If a Principal of an Engel & Volkers franchise commits a breach of the Confidentiality Agreement and Covenant Not To Compete, can the agreement be terminated?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
- 20.3.6 commits a breach of the non-competition provisions set forth in Section 16 or one of the Principals commits a breach of the Confidentiality Agreement and Covenant Not To Compete;
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, if a Principal of an Engel & Volkers franchise commits a breach of the Confidentiality Agreement and Covenant Not To Compete, it can be grounds for termination of the franchise agreement.
Specifically, the FDD states that the franchisor can terminate the franchise agreement if one of the Principals commits a breach of the Confidentiality Agreement and Covenant Not To Compete.
This means that maintaining confidentiality and adhering to the non-compete terms are critical obligations for all Principals involved in the Engel & Volkers franchise. Failure to do so can have serious consequences, including the termination of the franchise agreement.