Received my 2016 maintenance fee statement, which references a new arbitration provision in the SVN network disclosure guide. The provision mandates arbitration of disputes, and also includes a class action waiver (if you arbitrate you can't join a class action lawsuit). There is an opt-out provision (quoted below).
So - can anyone think of any reason that every existing SVN member/owner should not immediately opt out of this new provision?
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Right to Reject Arbitration Provision: Owner may reject this Section by sending Network Operator a written notice which gives Owner’s name and Agreement number and states that Owner rejects the Arbitration Provision.
The rejection notice must be sent by certified mail, return receipt requested, to Vistana Vacation Network, Inc.,
9002 San Marco Ct., Orlando, Florida 32819, Attn: Legal Department - Arbitration Rejection Notice. A rejection notice must be signed by Owner and received by Network Operator within thirty (30) days after becoming a
Network Member or 30 days after these Network Rules have been updated, whichever date is later. Rejection of arbitration will not affect any other term of this Agreement.
So - can anyone think of any reason that every existing SVN member/owner should not immediately opt out of this new provision?
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Right to Reject Arbitration Provision: Owner may reject this Section by sending Network Operator a written notice which gives Owner’s name and Agreement number and states that Owner rejects the Arbitration Provision.
The rejection notice must be sent by certified mail, return receipt requested, to Vistana Vacation Network, Inc.,
9002 San Marco Ct., Orlando, Florida 32819, Attn: Legal Department - Arbitration Rejection Notice. A rejection notice must be signed by Owner and received by Network Operator within thirty (30) days after becoming a
Network Member or 30 days after these Network Rules have been updated, whichever date is later. Rejection of arbitration will not affect any other term of this Agreement.