What written notice period is required to renew an Engel & Volkers franchise?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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. |
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, a franchisee must provide written notice to Engel & Volkers at least six months before the expiration of their current franchise term to renew their franchise agreement. The initial franchise term for Engel & Volkers is 10 years, with an option for one additional term of 10 years.
In addition to providing timely written notice, the franchisee must also comply with all provisions of the existing Franchise Agreement and any other agreements they have with Engel & Volkers. This includes maintaining good standing and adhering to all operational standards and financial obligations.
Furthermore, the franchisee will be required to sign the then-current form of the Franchise Agreement, which may contain materially different terms and conditions than the original contract. They must also sign a general release and pay a renewal fee, the amount of which is not specified in the excerpt. A prospective franchisee should inquire about the renewal fee and carefully review the terms of the new Franchise Agreement to understand any changes or additional obligations.