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CHAPTER 13 |
TIME SHARE GLOSSARY |
- DBW: Developer Bonus Week
- EOY: "Every Other Year"
- Floating Week: Owner requests a desired date from the time share resort every year subject to availability at the time of request.
- FK: "Full Kitchen"
- FROR: "First Right of Refusal". Used by some resorts to control resale values.
- GC: "Gold Crown". An RCI designation of their highest quality resort.
- HGA points: Marriott Honored Guest Award points.
- II: "Interval International", an exchange company.
- Interval: One time share week.
- LH: "Lease hold". Time share is deeded property on leased land.
- Lockout: If allowed, a time share unit can be subdivided and used as two smaller units for the purposes of use or exchange. e.g.: a three bedroom unit might be split and deposited as one 2Br unit and one 1Br unit giving the owner two weeks for use or exchange.
- Lurker: Non participating visitor to BBS sites.
- OBO: "Or Best Offer".
- MF: Maintenance Fee
- Rack rate: Non discounted hotel room rate.
- RCI: "Resorts Condominium International", an exchange company.
- RID: "Resort of International Distinction". An RCI designation of their second highest quality resort.
- Right of Recision: Time period after sale in which the buyer can cancel the sale.
- RTU: "Right To Use". Time share ownership has an expiration date.
- SFX: "San Francisco Exchange" , an exchange company.
- Trade Power: A measure of desirability of a time share week for use in exchanging. Based on location, time of year and resort quality.
- TUG: "Time share Users Group"
- T/S: Time share or ownership interval.
- VEP score: "Vacation Exchange Profile". An RCI resort rating score (company confidential).
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