I would like to discuss this clause -23 from the "RCI Points Disclosure Guide"
It says:
23. RIGHTS OF NETWORK ADMINISTRATOR. The
Network Administrator may waive or modify the
application of any requirement, including Transaction
fees, otherwise existing in the Network Documents.
When a Member uses his/her RCI Points to make a
Reservation of Partner Inventory, those RCI Points are
assigned to the Network Administrator for its use in
promoting and operating the Network. The Network
Administrator may use those RCI Points to make a
Reservation of Vacation Time, to make those RCI Points
available for Participants, or to otherwise use or dispose
of those RCI Points. Based upon anticipated demand,
the Network Administrator may exchange Vacation Time
in the Network Depository for Vacation Time in the
External Exchange Program. Further, the Network
Administrator may, at any time, dispose of Vacation Time
it reasonably determines will likely go unused, and the
Network Administrator may dispose of any Vacation
Time that is not the subject of a Reservation ninety (90)
days prior to the start date of that Vacation Time. Finally,
the Network Administrator may, in its sole discretion,
accept or reject any Network Participation Agreement.
* External Exchange Program is RCI Weeks
In particular the green text. I would like the RCI Rep to explain Why is it necessary to dispose of intervals, what criteria it uses to dispose of intervals, if members could see this list, how could it determine that certain intervals are not worth keeping in the bank when it is likely disposed for money and who benefits from the disposal of these intervals. Also what safeguards are in place to protect members deposits from possible abuse by RCI in this exercise. I would like other members to say what they think about this clause and how RCI uses it considering the possible conflicts of interest of the Network Administrator (RCI) as the latter is employed by Cendant who has considerable interests in the hospitality business.
It says:
23. RIGHTS OF NETWORK ADMINISTRATOR. The
Network Administrator may waive or modify the
application of any requirement, including Transaction
fees, otherwise existing in the Network Documents.
When a Member uses his/her RCI Points to make a
Reservation of Partner Inventory, those RCI Points are
assigned to the Network Administrator for its use in
promoting and operating the Network. The Network
Administrator may use those RCI Points to make a
Reservation of Vacation Time, to make those RCI Points
available for Participants, or to otherwise use or dispose
of those RCI Points. Based upon anticipated demand,
the Network Administrator may exchange Vacation Time
in the Network Depository for Vacation Time in the
External Exchange Program. Further, the Network
Administrator may, at any time, dispose of Vacation Time
it reasonably determines will likely go unused, and the
Network Administrator may dispose of any Vacation
Time that is not the subject of a Reservation ninety (90)
days prior to the start date of that Vacation Time. Finally,
the Network Administrator may, in its sole discretion,
accept or reject any Network Participation Agreement.
* External Exchange Program is RCI Weeks
In particular the green text. I would like the RCI Rep to explain Why is it necessary to dispose of intervals, what criteria it uses to dispose of intervals, if members could see this list, how could it determine that certain intervals are not worth keeping in the bank when it is likely disposed for money and who benefits from the disposal of these intervals. Also what safeguards are in place to protect members deposits from possible abuse by RCI in this exercise. I would like other members to say what they think about this clause and how RCI uses it considering the possible conflicts of interest of the Network Administrator (RCI) as the latter is employed by Cendant who has considerable interests in the hospitality business.