Owner/exchange responsibility

[Presley Senior Member Find all posts View Profile Close Presley]

Hi Mark,
I have a couple questions regarding depositing Worlmark. I have seen posted on wmowners a couple times that if we deposit our week with a smaller exchange company, such as SFX, we the owners remain 100% responsible for any damage to the unit by the person using the exchange. They claim that isn't the case if we deposit with II or RCI.

I assume that there won't be any damage, but if there was and WM chose to charge me for something that an exchanger via SFX did, what would be the recourse?

My other concern isn't really a question. I have more than one WM week deposited with SFX and when the deposit is first approved, WM shows me that it can't be canceled. After a couple months, my account shows that it can be canceled. Obviously, I won't cancel, but I wanted to share that info as I imagine it could be problematic in some situations.

Jodi

[Mark @SFX Industry Representative Find all posts View Profile Close Mark @SFX]

Hi Mark,
I have a couple questions regarding depositing Worlmark. I have seen posted on wmowners a couple times that if we deposit our week with a smaller exchange company, such as SFX, we the owners remain 100% responsible for any damage to the unit by the person using the exchange. They claim that isn't the case if we deposit with II or RCI.

I assume that there won't be any damage, but if there was and WM chose to charge me for something that an exchanger via SFX did, what would be the recourse?

My other concern isn't really a question. I have more than one WM week deposited with SFX and when the deposit is first approved, WM shows me that it can't be canceled. After a couple months, my account shows that it can be canceled. Obviously, I won't cancel, but I wanted to share that info as I imagine it could be problematic in some situations.

Jodi

Jodi - Thank you for your post and apologies, I missed your post until now.

Excellent question. The truth is, technically with the other exchange companies you "could" be held liable by WM for damages caused by an inbound guest, except that in the membership agreements between the exchange companies and their members there is a clause essentially stating the inbound guests agree to be liable for any and all damages/losses etc. to the unit during their occupancy.

This is no different to you or others using SFX for their exchange, as we have the same terms/language. The inbound guest agrees to be liable, thus in effect giving you a form of indemnification.

In the 20 years we have been in business, and the hundreds of thousands of bookings, there has not been one incident of this nature.

There are those who may say this is nothing more than a scare tactic, to try and keep you locked into the "officially" affiliated exchange company.

With your other concern, technically once your week is deposited with an exchange company, the resort should not state you can cancel it. It would be irresponsible and unethical for them to do so.

When you sign a deposit form, it gives an exchange company "exclusive use" of your deposited week. If you did cancel it and we have a member booked into your unit, you would then be legally liable for the costs involved for us to rent them a comparable unit in the same area. If your deposited week was not booked for another member, then there is the possibility of the unit being returned to you.

Hope this helps...

Thanks,
Mark @sfx
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