What section of the Engel & Volkers Franchise Agreement outlines the summary of provisions?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
wing tables list important provisions of the Franchise Agreement and related agreements. You should read these provisions in the agreements attached to this Franchise Disclosure Document.**
FRANCHISE AGREEMENT
| 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. |
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 key provisions within the franchise agreement. This item includes a table that outlines various provisions, the specific section in the Engel & Volkers Franchise Agreement where each provision is detailed, and a brief summary of the provision itself.
For example, the table in Item 17 details the length of the franchise term, which is covered in Section 19.1 of the agreement and lasts for 10 years. It also summarizes the conditions for renewal or extension of the term, referencing Sections 19.2 and 19.3, which include serving written notice at least six months before the current term expires, complying with all agreement provisions, signing the current franchise agreement form, signing a general release, and paying a renewal fee. The summary also indicates that the renewal contract may have materially different terms.
Item 17 further summarizes conditions under which Engel & Volkers may terminate the franchise agreement with or without cause, referencing sections 4.8, and 20.2 through 20.4. It also outlines non-competition covenants during the franchise term, as detailed in sections 16.1 and 23.2.5, which prevent franchisees and their principals from competing with the Engel & Volkers system, with certain exceptions for minor stock ownership in publicly traded competitors. Finally, it addresses choice of law, indicating that New York law generally applies, as specified in section 26.1, section 8.3, and Appendix 2, although this may be subject to state law.