1. UNDERLYING PRINCIPLE
No activity whether of an advertising or promotional nature or otherwise conducted by
any member, its subsidiaries, agents, servants or employees shall be conducted in such
a manner as to bring Vacation Ownership into disrepute or reduce the confidence of the
public in the Vacation Ownership Programmes in
2.1 "Advertising" is the solicitation for the purchase of Vacation Ownership Programmes
through any print or electronic media advertising, direct mail activity, placards,
billboards or other outdoor or indoor display media and sales literature whether this
be distributed by hand, by mail, by door?to?door delivery, or with personal
2.2 "Association" means the Thai Vacation Ownership Association or the collective body
of Ordinary Members and Associate Members thereof.
2.3 "Developer" includes any corporation, partnership, joint?venture, individual, or
other person which owns or holds an equitable interest in a Vacation Ownership
Programme, whether as the original owner or equitable interest holder, or as a
successor, in whole or in part, to the interests of the original owner or equitable
2.4 "Exchange company" includes any corporation, partnership, firm joint?venture
individual or other person who operates an exchange programme as described in
2.5 "Item" includes any premium, gift, award, prize, or anything of value offered or
distributed to a consumer by a Firm in connection with the solicitation or the sale
of Vacation Ownership.
2.6 "Promotional activity" is any advertising or contact with a view to the promotion of
the Vacation Ownership Programme whether by telemarketing or direct marketing
through personal solicitation on?site or off?site, or through any on?site or off?site
sales presentation or any transaction including any personal communication,
audio?visual programme, telephone communication, site visit or tour, or other
direct selling activity.
2.7 "Vacation Ownership Programmes" shall mean any timesharing/vacation/holiday
ownership scheme/programme and is a term that covers the various methods of
purchasing or using or purchasing the rights to use holiday homes, apartments,
villas, hotels, condominiums or other properties in a Vacation Ownership or
clubsharing property, whether in Thailand or elsewhere that such scheme/
programme operates. Such ownership scheme/programme may be in the form of,
but not limited to:
(1) "Fee Simple/Freehold Ownership" is the purchase of an interest in real property
of which the purchaser receives legal title to the property.
(2) "Clubsharing/Club Ownership" is the purchase of a fee simple/freehold ownership
and/or right to use ownership in two or more properties and where such
properties are utilised in accordance with club rules and regulations.
(3) "Right?To?Use Ownership" is a holiday arrangement in which a purchaser is
entitled by contract to use or occupy the holiday accommodation for a specified
period of time for which the right?to?use scheme/programme whether in Thailand
or elsewhere is to operate. Purchasers of such schemes/programmes acquire no
legal title to the real property or properties comprising the Vacation Ownership
2.8 "Vacation Ownership Activities" include feasibility analysis, planning, financing,
site selection, acquisition, design, applications, approvals, site preparation/
construction, marketing, sales, management and operations processes and other
developing and marketing activities relating to the Industry.