What does the term 'parties' include in the venue section of the Engel & Volkers franchise agreement?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
17.1 Indemnity:
Franchisee will, at its sole cost, at all times defend, reimburse and hold harmless Franchisor and its affiliates, subsidiaries, successors, assigns and designees; and, the officers, directors, managers, employees, contractors, agents, attorneys, shareholders, owners, members, designees and representatives of all of the foregoing (Franchisor and all others referenced above being the "Indemnified Parties"), and indemnify and hold harmless Franchisor and the other Indemnified Parties to the fullest extent permitted by law, against all claims, losses, liabilities and costs (as denominated in the following paragraph) incurred in connection with any judicial, administrative or arbitration
Source: Item 22 — CONTRACTS (FDD page 88)
What This Means (2025 FDD)
According to the 2025 Engel & Volkers Franchise Disclosure Document, Section 17.1 defines the term "Indemnified Parties" in the context of liability and indemnity. This section specifies who is protected under the indemnity clause, outlining the scope of individuals and entities that Engel & Volkers franchisees must defend, reimburse, and hold harmless.
The "Indemnified Parties" include Engel & Volkers itself, along with its affiliates, subsidiaries, successors, assigns, and designees. The protection extends to the officers, directors, managers, employees, contractors, agents, attorneys, shareholders, owners, members, designees, and representatives of all the aforementioned entities. This comprehensive list ensures that a wide range of individuals and organizations associated with Engel & Volkers are covered under the indemnity agreement.
This means that as an Engel & Volkers franchisee, you are responsible for defending and protecting all of these parties from claims, losses, liabilities, and costs arising from your business operations. This obligation is a significant responsibility, as it requires franchisees to manage their business in a way that minimizes risk and potential legal issues for a broad group of stakeholders associated with the Engel & Volkers brand. Franchisees should carefully review this section of the Franchise Agreement with legal counsel to fully understand their obligations and potential liabilities.