Annual Management Fees are raised in advance on the 1st of September, for the following year, and are payable by the 30th of September of the year in which they are raised.
In the event that a Member has made arrangements to pay their Management Fees by monthly ACB instalments, then the total due must be paid by the 30th of September of the year for which they are raised failing which full payment is due on invoice. e.g. Fees raised on 1 September for Club Credits to be used in the following (usage) year and if paid by debit order, must be paid in full by 30 September of the usage year.
Members who pay their annual Management Fees by ACB / debit order must have paid the current years' fees by 30 September of that year, in order to qualify to accumulate / carry forward the current year's unused Club Credits to the following calendar year.
A new member who wants to use or accumulate their Club Credits in the year of joining must pay the full Management Fee by the 30th of September of the year of joining, either by way of a single instalment, payable immediately, or, by debit order, so structured that the full payment is paid by 30 September of the year of joining.
A new member who purchases between 1 October and 31 December and wants to use or accumulate their Club Credits in the year of joining must pay the full management immediately upon joining.
A Member paying their annual fees by debit order may only make use or transact with their Club Credits once 25% of the total amount due for Management Fees for that year has been paid.
Should a Member who has made a booking default on any payment due to the Association, and not rectify such default within 7 days of such default then in such case the Association may:
a. Cancel any pending, on hold, or confirmed future bookings due to the non-payment; and or;
b. Should the Member already have occupied accommodation based on the usage of his Club Credits, then the Club Credits for that year will be reversed; and or;
c. The Member will not be able to make any further bookings until the total arrears and related charges have been settled in full.
Should a member wish to make a booking in the current year, for occupation dates which fall in the following year, then at least 25% the following years' estimated annual fee must be paid in advance, before the booking can be made.
A member paying by debit order and wanting to then borrow from the following years' Club Credits, must first settle the full outstanding balance for the current year. In addition thereto they must also settle at least 25% of the estimated Management Fee for the following year, before they may borrow Club Credits from the next year.
The LVC Reservation Cancellation Policy is as follows: Cancellation of, or changes to confirmed bookings will be accepted for the period up to 6 (six) weeks prior to the due occupation date of the confirmed booking, subject to payment of a reasonable administrative Cancellation Fee.
Cancellations of a booking within the 6 week period prior to the due occupation date, can either be substituted for an available alternative resort, subject to the payment of a cancellation fee, or alternatively the member may forfeit the Usage Units relative to the cancelled booking.
Club Credits have to be used within one year after being allocated ("one year window period").
Club Credits which are due to expire at the end of the current year, can subject to availability, be used prior to the end of that year to make bookings that occur in the following year, subject however to the provision that the Management Fees for Club Credits so carried forward and Management Fees for the year in which the Units are to be used are paid in full.
A member who is in default on his Capital amount or Management Fee will be regarded as being in breach of the Association rules and therefore may not transact for a booking in any manner until such time as his total arrears are settled in full.
All bookings are subject to availability of accommodation in the Club and are allocated on a first come first served basis.
Club Credits have to be used within one year after being allocated("one year window period"). Any Club Credits which are due to expire at the end of the current year, can prior to the expiry date and subject to availability, be used to request bookings that occur in the following year, subject further, to the rule that; the current Management Fees and the Management Fees for the year in which the Club Credits are to be used must be settled in full.
As all requests for bookings are allocated on a first come first served basis, bookings should therefore be requested well in advance of the required dates.
In the event of a Member procuring and using any Club week to space bank (deposit) with an exchange organization, the Member is bound by the exchange rules and regulations of that exchange organization, and the Member or his party shall have no recourse to or claim against the Association or the Managing Agent in respect of such exchange transaction.
In the event of a member personally using an online booking system the Member is accordingly bound by the rules and regulations of that online booking system and the Member or his party shall have no recourse to or claim against the Association or the Managing Agent in respect of such online transaction.
A member and his party utilizing any resort or any destination in terms of the LVC scheme, or via any exchange organisation or online bookings system, is required to accept and sign the indemnity provisions of that specific resort or establishment.
A member who has paid their current Management Fees in full may accumulate unused Club Credits, for the accrual period specified in their purchase agreement.
These rules may be amended by the Club from time to time to facilitate and to ensure the smooth efficient and equitable functioning and operation of Lifestyle Vacation Club.