The Spanish cabinet on Friday approved the draft legislation to control the multi-ownership or timeshare industry in Spain.
The legislation adapts the Spanish regulations to European norms, and takes into account new holiday packages with the intention of better protecting the consumer.
It affects the contracts for tourism assets, the acquisition of long-term holiday products, and the resale and exchange of timeshare and other variants.
The new legislation regulates the time of exercising a right of withdrawal, extends a ban on advance payments and establishes a payment schedule for long-term contracts.
It recognises four types of contracts –
1 – For fixed assets such as buildings, ships, cruises and caravans when used as accommodation over a period of time with a duration of between one to three years.
2 – Long-term holiday products, including travel and vacation clubs, where the contract is over a year, and where the consumer obtains the right to a discount or other benefits in respect to accommodation and/or other services or travel.
3 – The resale contract, including when a resale agent is involved in exchange for brokerage or commission.
4 – The exchange contract for the rights of the timeshare property for tourist use when the consumer joins an exchange group.
The new legislation establishes that greater information is given to the consumer before any contract is signed, with the consumer required to complete a series of forms. The right to change your mind after signing is increased from ten to fourteen days, with special attention paid to any delays in meeting the obligations on the part of the seller, in which case the time period is extended.
The prohibition of any advance payment by the purchaser before the end of the withdrawal period extends to the provision of guarantees, and other items.
The new legislation remains at the draft stage, and goes now before the Consumers and Users Council, the Fiscal Council and the General Council for Judicial Power and the State Council for their considerations.
You Might Also Like :
0 comments:
Post a Comment