| Advance Payment |
Equivalent to a Deposit |
| BERR | UK Government Department for Business, Enterprise and Regulatory Reform
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| CFR | Common Frame of Reference
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| Consumer Acquis | The body of Community consumer legislation (see paragraph 31)
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| Cooling-off period | The period of time during which a purchaser can cancel the purchase contract without penalty.
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| Exchange | The right to use someone else's timeshare, in exchange for others having the right to use your timeshare, without affecting the ownership rights of the parties
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| Fly-buy | A resort marketing programme in which potential consumers are brought to a resort, accommodated at the resort and given a sales presentation. The cost of the flight may be borne in part through the resort marketing budget[32].
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| Holiday Club | see Long term holiday product
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| Horizontal Directive | Legislation which cuts across a range of sectors
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| LACORS | Local Authorities Coordinators of Regulatory Services
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| Long term holiday product | Arrangement under which a consumer is offered future discounted travel and/or accommodation in return for an initial payment
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| OFT | Office of Fair Trading
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| OTE | Organisation for Timeshare in Europe
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| Points Clubs | A timeshare-like arrangement where "owners" hold points which entitle them to holiday accommodation from a pool of resorts.
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| Resale | A contract by which a trader helps a consumer to sell or buy a timeshare or long-term holiday product.
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| Right of Withdrawal | The right to withdraw from the contract during the cooling-off period (see above)
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| TATOC | The Association of Timeshare Owners Committees
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| TCA | Timeshare Consumers Association
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| Timeshare | A contract of more than a year by which a consumer acquires the right to use one or more accommodation for more than one period of occupation
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| TSI | Trading Standards Institute
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| UCPD | Unfair Consumer Practices Directive
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| Vertical Directive | Legislation which is sector—specific
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