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New DC Exchange Procedures effective 12-5-15

Fasttr

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A hot new pop up appears when you enter the my-vacationclub.com site today (they seem to love the pop up messages). It gives notice of new Reservation Procedures (which when clicked on do not appear new based on the effective date) and also new DC Exchange Procedures, which do indicate they are effective 12-5-15.

Have not had time to see what appears new, but figured I would toss the link out to all in case you want some reading to put you to sleep.

http://www.my-vacationclub.com/common/vc/en-us/pdfs/enrollment_legal_docs/exchange_procedures.pdf

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SueDonJ

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OMG - can they not give us a plain language version to read?

This is one criticism that I will never understand. They're required to file governing docs with legislative agencies and they're required to furnish copies of certain approved documents to owners/members. That's why we get these things, not because they're doing us a favor of some sort. Expecting them to translate the docs into non-legalese is a ridiculous expectation, IMO, for one reason because they're not required to do it but for another, because it would effectively arm us to fight against them.
 

Fasttr

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One interesting change is the change of the term Trust Member to Direct Member, where Direct Member is defined as...

Direct Member means the owner of an Interest in an Affiliate Program, for whom a separate enrollment agreement with the Exchange Company is not required, and who is not an Exchange Member.

Formerly, the Trust Member was defined as....(italics are mine)

Trust Member means a Member who is the owner of an Interest in an Affiliate Program which is a trust and for whom a separate enrollment agreement with Exchange Company is not required.

Seems like they are Teeing this up for folding something else into the program. Asia Pacific Club perhaps?
 

dioxide45

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One interesting change is the change of the term Trust Member to Direct Member, where Direct Member is defined as...

Direct Member means the owner of an Interest in an Affiliate Program, for whom a separate enrollment agreement with the Exchange Company is not required, and who is not an Exchange Member.

Formerly, the Trust Member was defined as....(italics are mine)

Trust Member means a Member who is the owner of an Interest in an Affiliate Program which is a trust and for whom a separate enrollment agreement with Exchange Company is not required.

Seems like they are Teeing this up for folding something else into the program. Asia Pacific Club perhaps?

That could very well be. It makes sense that the Asia Pacific Club would be treated somewhat different than trust owners if they fold them in to the program.

It is also odd that this time they have a popup that there are new Exchange Procedures. Several days in advance to boot. I don't ever remember that in all the prior updates. Just had to stumble in to them.

I see that they have bolded the language about not grandfathering ownership levels if they change them. I don't know if that was bolded in the past.
 

Fasttr

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I see that they have bolded the language about not grandfathering ownership levels if they change them. I don't know if that was bolded in the past.

That info was also bolded in the last version (ver 4-30-15).
 

MALC9990

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One interesting change is the change of the term Trust Member to Direct Member, where Direct Member is defined as...

Direct Member means the owner of an Interest in an Affiliate Program, for whom a separate enrollment agreement with the Exchange Company is not required, and who is not an Exchange Member.

Formerly, the Trust Member was defined as....(italics are mine)

Trust Member means a Member who is the owner of an Interest in an Affiliate Program which is a trust and for whom a separate enrollment agreement with Exchange Company is not required.

Seems like they are Teeing this up for folding something else into the program. Asia Pacific Club perhaps?

Oh I wish that comes true. Would make my Christmas !!!!
 

JIMinNC

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One thing I noticed that changed at some point is Section IV, Paragraph H, that deals with Points not purchased from an "Approved Broker." I have attached a jpeg of the original wording of this paragraph from the documentation we received when we purchased our Points in July 2014. My PDF of that could not be copied and pasted as text for some reason, so I had to attach it as an image.

The current wording for Section IV.H is the same as in the April 2015 revision, so sometime between July 2014 and April 2015 this change was made. The wording you can read in the original, attached jpeg clearly says that the only Exchange Benefits that can be restricted for resale points are the "Special Benefits" (mainly Marriott Rewards, Explorer Collection, etc). But the new Section IV.H that was included in the April 2015 revision and the current revision, clearly gives Marriott some additional discretion to restrict even the "Base Plus Exchange Benefits" (which is basically every exchange benefit except reservations made within the 60 day window) and limit resale buyers to only "Base Exchange Benefits" (within the 60 day window). I've bolded the relevant text below. The portion that concerns me is the portion I've noted in red. I'm assuming the "sole discretion" it refers to is the discretion to require the initiation fee, and is not implying that they have the discretion to restrict Base Plus Exchange Benefits even if the fee is paid. One of our legal eagles need to read this to confirm. But if you compare this text to the attached jpeg text, there was a major change made to this paragraph sometime between June 2014 and April 2015.


H. Base Exchange Benefits, Base Plus Exchange Benefits, and Special Benefits. Exchange Company may offer Special Benefits and/or Base Plus Exchange Benefits through the Program to certain Program Members and not others (which may include, but is not limited to, variance among Affiliate Programs(s) and levels of Membership), from time to time. Such Special Benefits may vary, are not part of the Affiliate Program (or its reservation system), and are provided solely as part of the Program at the sole discretion of Exchange Company. Exchange Company has the right to establish such rules and regulations as it deems necessary to adequately govern Program Member access to such Special Benefits, which may include certain fees. In addition, Exchange Company has the right to restrict use of any Base Plus Exchange Benefits and Special Benefits offered by Exchange Company to certain Program Members, including, without limitation, only to those Program Members who (i) purchase an Interest from or through an “Approved Broker” which includes: (a) the developer of the Program Member’s Affiliate Program or Component; or (b) such other entity approved by Exchange Company, from time to time; (ii) acquire the Interest by virtue of being a Family Member by gift, will, divorce decree, testamentary disposition, intestate succession or trust from a Program Member; or (iii) is otherwise granted Membership by Exchange Company, upon the terms and conditions then determined by Exchange Company in Exchange Company’s sole discretion. If a Program Member does not satisfy the criteria set forth above in this Section IV.H., such Program Member may be limited to only Base Exchange Benefits, or upon payment of the initiation fee, if permitted in Exchange Company’s sole discretion, Base Plus Exchange Benefits. Any offered Special Benefits are subject to separate terms and conditions, which may be changed, substituted, or eliminated without prior notice. Some Special Benefits may be provided by independent third parties and Exchange Company expressly disclaims responsibility for the acts or omissions of any persons or entities providing such Special Benefits. Special Benefits are only available to Guests that are accompanied by a Program Member or a Family Member of the Program Member.
 

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Fasttr

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One thing I noticed that changed at some point is Section IV, Paragraph H, that deals with Points not purchased from an "Approved Broker." I have attached a jpeg of the original wording of this paragraph from the documentation we received when we purchased our Points in July 2014. My PDF of that could not be copied and pasted as text for some reason, so I had to attach it as an image.

The current wording for Section IV.H is the same as in the April 2015 revision, so sometime between July 2014 and April 2015 this change was made. The wording you can read in the original, attached jpeg clearly says that the only Exchange Benefits that can be restricted for resale points are the "Special Benefits" (mainly Marriott Rewards, Explorer Collection, etc). But the new Section IV.H that was included in the April 2015 revision and the current revision, clearly gives Marriott some additional discretion to restrict even the "Base Plus Exchange Benefits" (which is basically every exchange benefit except reservations made within the 60 day window) and limit resale buyers to only "Base Exchange Benefits" (within the 60 day window). I've bolded the relevant text below. The portion that concerns me is the portion I've noted in red. I'm assuming the "sole discretion" it refers to is the discretion to require the initiation fee, and is not implying that they have the discretion to restrict Base Plus Exchange Benefits even if the fee is paid. One of our legal eagles need to read this to confirm. But if you compare this text to the attached jpeg text, there was a major change made to this paragraph sometime between June 2014 and April 2015.

Under VII D - regarding resale point ownership transfers....it still says the following, so I think the wording you bolded simply means if they allow opening up those resale points in the system via payment of the initiation fee, then that resale purchaser would also get the Base Plus Exchange Benefits...

Further, with respect to Direct Members, until payment of any required initiation fee is received (or waived by Exchange Company), the New Program Member may not be entitled to Base Plus Exchange Benefits or Special Benefits in Exchange Company’s sole discretion; however, payment of the initiation fee (or waiver by Exchange Company) will allow access to the Base Plus Exchange Benefits.
 

BocaBoy

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Under VII D - regarding resale point ownership transfers....it still says the following, so I think the wording you bolded simply means if they allow opening up those resale points in the system via payment of the initiation fee, then that resale purchaser would also get the Base Plus Exchange Benefits...
I think that is the only legitimate reading of the language.
 

JIMinNC

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Under VII D - regarding resale point ownership transfers....it still says the following, so I think the wording you bolded simply means if they allow opening up those resale points in the system via payment of the initiation fee, then that resale purchaser would also get the Base Plus Exchange Benefits...

I think that is the only legitimate reading of the language.

Thanks. That was more or less what I concluded as well, but there was enough ambiguity in my non-legalese mind that I wanted to at least point out the language change.
 

BocaBoy

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Thanks. That was more or less what I concluded as well, but there was enough ambiguity in my non-legalese mind that I wanted to at least point out the language change.

I for one appreciate that a Member like you digs into the details of the language. I am a licensed attorney (haven't practiced in 35 years) so I know how to read this stuff but I find it increasingly tedious to do so.
 
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