Which section of the Engel & Volkers Franchise Agreement addresses the franchisee's transfer obligations?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Obligations | Section in agreement | Disclosure document item |
|---|---|---|
| t. Transfer | FA §§22 | Items 6 and 17 |
Source: Item 9 — FRANCHISEE'S OBLIGATIONS (FDD pages 40–42)
What This Means (2025 FDD)
According to Engel & Volkers's 2025 Franchise Disclosure Document, Item 9 outlines the franchisee's obligations, referencing specific sections within the Franchise Agreement. The table provided in Item 9 details various obligations and their corresponding sections in the Franchise Agreement.
Specifically, the franchisee's obligations related to 'Transfer' are addressed in Section 22 of the Franchise Agreement (FA §§22). This section likely outlines the procedures, conditions, and any fees associated with transferring the franchise to a new owner. Additionally, Item 9 indicates that further information regarding transfer obligations can be found in Items 6 and 17 of the disclosure document.
For a prospective Engel & Volkers franchisee, understanding the transfer obligations is crucial. It dictates the process and requirements should they wish to sell or transfer their franchise in the future. Franchisees should carefully review Section 22 of the Franchise Agreement, as well as Items 6 and 17 of the FDD, to fully understand their rights and responsibilities regarding franchise transfers.