MEMBERSHIP AGREEMENT & FEES
5. MANAGEMENT FEES
I joined in the middle / at the end of the year. Why do I have to pay management fees twice in one year?

At the point of sale, you would have been given the opportunity to defer your membership to the following year. This is based on the occupation date selected on your Agreement. Should you have opted to utilize your Club Units in the year in which you signed your Agreement, regardless of the time of the year, you will be required to pay that current year's Management/ Membership fee. Your portfolio will be updated with the full amount of Club Units purchased. We do not charge a pro rata fee and therefore do not give pro rata Club Units. Then, in September annual fees are raised in advance for the following year.

Please note that for agreements signed after June, membership will automatically be deferred to the following year.

When are management fees raised and when are they payable?

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.

How are management fees calculated?

Management fees are calculated in such a way as to share the costs of the Association amongst all the members on an equitable basis, relative to the size of their portfolio. The expenses of the Association originate from the levies raised by the different resorts, in which the Association has usage and occupation rights. The costs of the Association are then added to the expenses of the resort levies and the total amount is then proportioned amongst the Club Units held by the different members, in terms of an actuarially calculated schedule. As a result, the costs of the Association are carried by the members in proportion to their portfolio of Club Units.

Why do I have to pay an annual fee if I do not make reservation in that year?

You are allocated the full amount of Club Units for the year, which you may accumulate for a limited time depending on your Agreement. Alternatively, you may book a QVC Club Stock week and "Space Bank" the week with Dial An Exchange or rent the week out through TradeUnipoint.