News article
Timeshare Directive implemented into Spanish Law - One year on!
Over a year after the EU Directive (2008/122/EC) in respect of certain aspects of timeshare, long-term holiday product, resale and exchange contracts came into place, Spain has now implemented this into its national legislation.
Timeshare, holiday clubs and resale contracts make up a sizable market in Spain, and consumers can now benefit from the additional rights they are afforded under the legislation.
Some of the notable changes to the legislation mean consumers are entitled to the following:
• Any invitation to a sales presentation must disclose the nature and commercial intentions of the presentation
• Holiday clubs must not be sold as an investment
• Pre-contractual information and the agreement must be supplied in a language of your choice
• You have the right to a 14 day cooling-off period
• The trader is not allowed to take a payment during the 14 day cooling off period
• Any linked finance (or loan) will be automatically terminated should the consumer cancel the agreement.
Check out our consumer warning's page BEWARE OF COLD CALLS FROM TIMESHARE RESALE COMPANIES
For more information on related services
