Systems and methods provide multi-modal based updates to firmware utilized by a hardware component of an IHS (Information Handling System), where the firmware updates are managed by a remote access controller of the IHS that provides remote management of the hardware component. The remote access controller receives a notification of an update to an agreement for utilization of the hardware component, where the agreement indicates firmware modes authorized for use by the hardware component. Firmware modes are identified that are locally stored by the hardware component. Any firmware modes are identified that are authorized for use by the hardware component based on the updated first agreement and that are not locally stored by the hardware component, and the identified firmware modes are retrieved for local storage by the hardware component. In this manner, firmware utilized in an IHS remains consistent with applicable service agreements.