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The following terms are generic to the vacation ownership world and
all may not apply to your home resort, but may come in handy when you
exchange.
Bank/Banking
see deposit
Banked week
A credit due as a result of depositing a week with Trading Places International (TPI) or another exchange organization.
Bonus Week
An extra week given out by the sales department as a reward for buying or referring a friend. Bonus weeks do not affect your Use Week, they are extra weeks. The user pays the current maintenance fee for the unit they are confirmed into and a small reservation fee.
Cascadas Vacation Legacy
The program that allows Club Cascadas owners to purchase the forever rights to their villas. This was never before available due to Mexico land laws. New buyers have the option of pre-purchasing a Vacation Legacy Villa that begins in the year 2018 and never ends.
Deposit
A Unit/Week given to TPI or other exchange company with or without the concurrent submission of an Exchange Request and prior to confirmation of a exchange into the deposited unit/week.
Developer
The entity that develops, markets, and sells interests in a resort.
Exchange
Your use of a unit/week other than that which you own or have reserved at your own resort (internal exchange) or another resort (external exchange).
Exchange Confirmation
Written notification from TPI or other exchange company that your exchange request has been fulfilled and that accommodations have been made available at a Host Resort.
Exchange Fee
The fee paid you pay for a confirmed exchange.
Exchange Request
An application for a exchange which may or may not be concurrent with the deposit of a unit/week.
Family of Resorts
A select group of resorts with which Trading Places International
has developed a special relationship, making it easier for you to exchange
into them.
Fixed Time
You own the same week each year. Guarantees you will be able to use
the same week you purchased every year, provided you are not delinquent
in your maintenance fees.
Home Resort
The resort where you own an interest.
Host Resort
The resort into which you have a confirmed exchange.
Occupancy
The maximum number of persons that may be accommodated in a resort
unit.
Owner/Member
Anyone other than the Developer who has acquired a shared interest
in a resort.
Premier Access
An optional membership program offered by Trading Places to the owners of the Cascadas one bedroom villas located in the main administration building. Premier Access gives members free exchanging to any week of the year at Cascadas or to over 30 "family of resorts" in the Trading Places system. The program also offers a maintenance fee guarantee program and the ability to split your week into two stays.
Season
That period of the year which you have purchased at your Home Resort
as defined by your purchase agreement. Also, various periods of the year
as defined by the Host Resort involved in a exchange.
Upgrade
The assignment of a Exchange or Use Week in a more desirable Season
or Unit of greater Occupancy than that deposited by that client.
Upgrade Fee
The amount paid for an Upgrade.
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