What is Engel & Volkers' policy on fees for optional or additional programs, designations, and services?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
- 14.5 Fees for Optional or Additional Programs, Designations and Services: Franchisee will pay to Franchisor such fees for additional programs, technology and technology-related services, designations and services applicable to Franchisee that are set forth in other sections of this Agreement or otherwise imposed.
Such fees shall be due as set forth in Section 14.6.
- 14.6 Due Dates: Unless otherwise stipulated, all ongoing fees due to Franchisor or its affiliates will be payable in U.S.
Dollars within ten (10) days of date of receipt of Franchisor's or its affiliate's invoice.
Unless otherwise stipulated, all Royalties and contributions to the National Marketing and Technology Fund due to Franchisor shall be payable in U.S.
Dollars at the earlier of i) the time of the settlement or closing or ii) upon receipt of an invoice.
Upon reasonable notice to Franchisee, Franchisor may amend the process of invoicing and payment into an automated electronic payment process to be performed by Franchisee.
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, franchisees are required to pay fees for optional or additional programs, designations, and services that are applicable to them. These fees are detailed either within the franchise agreement itself or imposed separately by Engel & Volkers.
Franchisees must adhere to the payment terms outlined in Section 14.6 of the agreement, which stipulates that all ongoing fees owed to Engel & Volkers or its affiliates are to be paid in U.S. dollars within ten days of receiving an invoice, unless otherwise specified. For royalties and contributions to the National Marketing and Technology Fund, payment is due at the earlier of the settlement or closing time, or upon receipt of an invoice. Engel & Volkers retains the right to modify the invoicing and payment process to an automated electronic system with reasonable notice to the franchisee.
Engel & Volkers also offers optional programs, designations, and services to qualifying franchisees, as mentioned in Section 5.1.7. Furthermore, Engel & Volkers may develop training programs applicable to specific franchisees and their staff, as stated in Section 9.5. The costs associated with attending these training courses, including travel, accommodation, food, and out-of-pocket expenses, are the responsibility of the franchisee.