An agreement between a Finance Company and a Developer where the Developer pays off any outstanding debt if a purchaser financed by the Finance Company defaults on a Finance Agreement.

Normally expressed as hotel unit, studio unit, and efficiency unit or by number of bedrooms. Hotel units, studio units, and efficiency units typically are a single room with sleeping accommodations and perhaps a small built in kitchen and sleep from two to four persons. One, two or three or more bedroom units are usually condominium style accommoda [..]

Value per Guest (Also called the room- or personal- efficiency) — This measures how efficiently a sales force is doing. You take the dollar volume of your sales and divide it by the total number of guests you toured, and it tells you your VPG. The higher the VPG, the better you are doing. For instance: say that in a week’s time you have 7 tours. Yo [..]

A right-to-use program that allows the member to accelerate usage of the time purchased. For instance: you have a 10-year right to use one week per year at a resort offering accelerated use. Instead of using one week every year, you may choose to use 2 weeks every year for 5 years or 5 weeks per year for 2 years. (Based on availability.)

The trade association in India for the timeshare industry.

See season.

Features that add to the value of the property such as swimming pools, tennis courts, golf courses, spas, boating, fitness room, laundry facilities, etc. Generally speaking, the more amenities a resort offers the greater the increase in value and desirability of the property.

The main trade association in the United States for the timeshare industry. Provides lobbying and other services in support of the industry.

Depositing a period of timeshare usage into an exchange company’s “bank”. If you do not use a week in a particular year, you are generally allowed to “bank it” and use it at a later time. See Accrued Weeks, Block Banking and Space Banking.

Salesperson’s term for prospective purchasers who avoid buying by saying that they will ‘be back’. Salespeople sometimes refer to them as “riding the be-back bus” and in other less flattering terms.