Who is Resort Fiduciary Services Limited and what do they do?
RFS is a company that was incorporated in 2004, and its primary role is providing protection to purchasers of the various products by acting as an independent third party.
Our Services include;
Stakeholder: RFS control and administer a number of bank accounts for a client, into which monies are paid or transferred into by purchasers, these account details are shown on the purchase contract. Monies will only be released by RFS to its client upon the completion of the transaction to the purchaser.
RFS will not be held liable or responsible for monies paid to other parties.
Trustee Services: RFS acts as Custodial Trustee for properties that form the Club. It will either hold the free-hold title or a lease over the property for the duration of the Club.
Registrar Services: This service is where RFS maintains the members register for the Club and issues membership certificates after checking that the weeks/points sold are available against the weeks available for sale.
Credit Card Services: RFS provides its clients with a facility to take payments for, registrations, exchanges, and administration and management fees, but NO SALES DEPOSITS. RFS’s details should appear on the contract or invoice advising the purchaser and or member that Resort Fiduciary Services Limited will appear on their credit card statement. All monies are paid into designated Stakeholder accounts.
RFS’s name will appear in the sales documentation in relation to its function for the product being sold.
RFS recommends that people wishing to purchase Timeshare ensure that all the documentation complies with the current EU Directive, further information can be obtained from the trade and consumer organisations;
RFS is an affiliated member of TATOC, The Association for Timeshare Owners Committees, which acts as the voice of timeshare owners and provides consumer advice to timeshare owners and potential purchasers. It is run by timeshare owners for timeshare owners.
Their website provides comprehensive details of the latest news and scams and the companies perpetrating them. www.tatoc.co.uk
TATOC's free helpline provides support and assistance for timeshare owners and receives over 1,000 consumer contacts every month. The helpline has assisted consumers to either recover or avoid losing more than £3 million since 2008. The majority of consumer questions are covered by TATOC's consumer guides available online through their website.
TATOC produces a quarterly magazine for timeshare owners, Sharetime, which contains articles, advice and the latest industry news. www.sharetimemagazine.com