For Remax, what is being amended by the execution of this addendum to the Franchise Agreement?
Remax Franchise · 2025 FDDAnswer from 2025 FDD Document
This Addendum is being executed to amend certain terms and conditions of the Franchise Agreement applicable to Franchisee's operation of the Franchise as a Commercial Real Estate Office as follows:
- Subsection 2.A. of the Franchise Agreement is hereby replaced in its entirety and shall now read as follows:
A. GRANT AND TERM OF FRANCHISE.
(1) Grant.
Source: Item 22 — Contracts (FDD pages 108–334)
What This Means (2025 FDD)
According to the 2025 Remax Franchise Disclosure Document, an addendum to the franchise agreement serves to modify the original agreement. Several exhibits outline specific amendments for different scenarios.
For instance, Exhibit A-2 details a Transfer Addendum that amends terms and conditions related to the transfer of a Remax franchise. Exhibit A-3, the Commercial Office Addendum, modifies the agreement for franchisees operating a Commercial Real Estate Office, specifically replacing Subsection 2.A regarding the grant and term of the franchise. Similarly, Exhibit A-4, the Team Office Amendment, modifies Subsections 8.G and 9.A concerning the Initial Education Program and Recruiting 101, and deletes Subsections 13.B.(1) and (2) related to office location and opening.
Each addendum is incorporated entirely into the franchise agreement, taking precedence over conflicting terms in the original agreement. These addenda cannot be altered except through a written instrument signed by all parties, ensuring that any modifications are formally agreed upon and documented. This structure allows Remax to adapt the franchise agreement to different situations such as transfers, commercial offices, and team offices, while maintaining a consistent overall framework.