EXCHANGE TERMS AND CONDITIONS
Preferred Status Members are entitled to participate in the Preferred Status Exchange (PSE) operated by RCI Management, Inc., an Indiana Corporation (RCIM), subject to the following terms and conditions:
1. In order to be eligible to be a member (Member) of PSE, you must be an owner in good standing of a vacation ownership interval (Interval) at a resort (Affiliated Resort) whose owners association (Affiliated Association) has executed an Association Affiliation Agreement (Affiliation Agreement) to join PSE. Affiliation Agreements are generally for an initial term of 1-3 years, with provisions for automatic renewals to contain provisions which permit termination by either party. The terms of the Affiliation Agreement can be changed by the concurrence of both the Affiliated Association and RCIM. You may ask for a copy of the Affiliation Agreement for the Affiliated Resort at which you own for a complete explanation of all of its terms. If the Affiliation Agreement relating to the resort at which you own is terminated, you will cease to be a Member and your resort will no longer be an Affiliated Resort.
2. Your Membership in PSE is voluntary. You have the right to decline to become a Member or to cancel your Membership at any time by advising the Board of Directors of your Affiliated Association of your election. If you decide not to be a Member, however, your Interval will not be made available for use by PSE Members, nor will you be entitled to use PSE.
3. If an Affiliated Resort fails to maintain the resort quality, fiscal soundness, and management requirements for staying in the PSE system, RCIM may suspend or terminate the affiliated resort's affiliation with PSE. Similarly, an Affiliated Resort may become temporarily unavailable due to construction or renovation. Also, if any Affiliated Resort is damaged or destroyed in such a way that it becomes uninhabitable or no longer meets the suitability requirements for PSE, such resort may become suspended or terminated from PSE without prior notice. Affiliated Resorts retain the right to reassign a visiting Member to comparable, substitute accommodations. RCIM is not responsible for the unavailability of an Affiliated Resort for any reason beyond RCIM's control as the operator of PSE.
4. Certain PSE features require payment of one-time and/or nightly fees. For example, if you wish to upgrade your unit type or season or split your week, you may be required to pay a fee as set by the Affiliated Association and RCIM. Please consult your PSE Resort Directory for an explanation of any required fees.
5. All exchanges
are confirmed on a space-available basis.
6. There is a
$15.00 fee to cancel or change a reservation.
7. In order to use PSE, you must be current in payment of your annual assessment to your owners association.
Please refer to Preferred Status Exchange directory for additional terms and conditions or call RCIR Management, Inc. 800.647.8001
Your decision to purchase should be based primarily upon the benefits to be gained from ownership and use of your timeshare interests in the resort and not upon the exchange program(s).
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Inc. All rights reserved.