1.1. ITRA has developed this code of practice for its members who are required to be committed to the highest standards for themselves and for those they serve, to promote consumer confidence in their industry.
1.2. Membership of ITRA is for all bona fide companies who are involved in the Timeshare Resale Industry in whatever form and is not restricted by favour.
1.3. This Code of Practice has been designed to set out the minimum standards of conduct for all those organisations participating in the Timeshare resale Industry who have a desire to see the image of the participating members enhanced for the benefit of all parties to any Timeshare resale transaction.
1.4. It is a condition of membership of ITRA that all members accept, observe, and comply with both the spirit and letter of each of these Codes of Practice and Codes of Ethics in a self regulatory manner.

2.1. Members of ITRA agree to abide by the legislation as provided by the law of the country, land or state in which they operate.
2.2. Members must comply with all applicable laws, rules, regulations and codes of practice imposed by statute, common law or equivalent and fulfil any relevant registration and or licensing requirements in all countries in which they conduct business, whether in person or through agents.
2.3. Members shall not engage in any unfair commercial practice or questionable conduct which is deemed to be disreputable to the timeshare resale industry.
2.4. Members should ensure that they are familiar with and comply with the Principles of conduct of the Association, the Code of Ethics of the Association and the relevant laws in all countries in which they operate.
2.5. Members must not make statements at any time that may lead the Public to forego any appropriate legal, financial or other statutory consumer protection rights with respect to the Product or the Industry.
2.6. Members shall refrain from any unfair, misleading or deceptive criticism of the practices of other Members other than through a formal complaint to the association through the secure message boards or other established complaints procedure as available.
2.7. Members shall not misrepresent the credentials of their affiliation to ITRA.
2.8. Members may advertise that they are Members of ITRA and that they are bound by this Code of Practice and Code of Ethics and may display the ITRA Logo at their business premises, on their stationary, business cards and electronically on their websites.
2.9. Members shall not knowingly misrepresent the benefit, costs, limitations or suitability of any Product, whether the product is offered by themselves or any other member. Nor shall they conceal any material limitations on the perceived ability of the Product to meet the expressed or implied needs of the purchaser.
2.10. Members shall ensure that if any incentives are offered in the promotion or sale of their product, such incentives shall not be presented in any manner that tends to mislead or deceive the public as to the true nature, value, or hidden costs.
2.11. All incentive promotions must comply with the relevant laws in the country or state in which the incentive is being offered or redeemed. Furthermore, due diligence should be exercised to ensure that the promotion is genuine.

3.1. These codes of Practice and Ethics shall be reviewed and amended as necessary after the first two years of operation and annually thereafter.
3.2. Variance will be made should it become necessary due to any amendments to law, legislation or ordinances.
3.3. Members may propose to change or alter ongoing non legislative issues affecting our code of ethics. Such changes will only be made by a majority vote on the issue by all members.

4.1. THE ITRA code of ethics has been developed to set down principles and rules to engender and instil the highest ethical standards in all members engaged in the modern timeshare resale industry to protect the consumer and the industry image.
4.2. Members must act honestly, fairly, courteously and efficiently in all dealings with the public and fellow members. Furthermore, neither members, nor their sales staff shall convey false or deceptive information regarding any proposed transaction.
4.3. Members marketing Timeshare products, including OPC's (off-premises contact) must make it clear to potential buyers from the moment of contact that they are marketing a timeshare resale interest.
4.4. All potential purchasers of a timeshare product must be given reasonable written information which covers all material aspects of the proposed purchase in support of their purchase decision. The information given must not be misleading or ambiguous and must be presented in a form and language that the purchaser can easily understand.
4.5. Where it is established by law, Consumers must have the benefit of a cooling off period and where appropriate, escrow facilities or suitable independent stake holder protection for all transactions.
4.6. Members must give a professional service to all prospective purchasers and vendors and undertake to explain as thoroughly and as clearly as possible all the relevant obligations and rights of all parties to the resale transaction.
4.7. If a dispute arises between members or members and their clients or clients of other members. Such disputes will be dealt with in accordance with our established complaints procedure.
4.8. Members are at all times fully responsible for the actions of their employees and for all other persons acting directly on their behalf.
4.9. Members must not publish any advertising or other information which is misleading.

5.0. COMPLAINTS

5.1. All and any complaints will be checked and verified by ITRA first by consultation with both parties to the complaint.

5.2. If the problem cannot be resolved at that stage then the complaint will be put to the members on the complaints forum message board where all members will have a say, if they so desire and then ultimately a vote on what action is to be taken.

5.3. The vote on any suggested action will only be made when a minimum of 30 days has elapsed and after full discussion and consultation has been made by all interested parties.

5.4. The 30 days will begin to count when the Forum Chairman and Board Moderator so decides but within 90 days of the lodging of the complaint with ITRA unless circumstances dictate otherwise. All members will be kept informed of any changes or movement in that regard on the message board.

5.5. The decision or decisions of the majority of the members in a vote in this forum will prevail. However, the Forum Chairman will have the final say on what discipline to impose, if any, and will have a deciding vote in the event of a 50-50 result.

5.6. Once a decision has been made on a discipline or not and posted, both parties to the complaint will have another 30 days from the date of posting to challenge the ruling. If no challenge is forthcoming, the ruling will become effective at Midnight on the 30th day after posting. The Forum Chairman will preside over a randomly chosen committee of five in the event of a challenge who will review the circumstances of the original complaint and the challenge.

5.7. When the five have voted the majority will prevail. There can be no tie and their decision will be final and all parties will be expected to abide by the ruling. Either party to the complaint will have the right to accept or reject the ruling, however, in the event that the ruling is rejected by either party the Chairman reserves the right to terminate or suspend the membership of ITRA of either party and place such expulsion or suspension on the Notice Board of the Association and inform all members.

Expelled Member

Any member expelled can apply for reinstatement after 90 days. During the time and from the moment of the expulsion the member may not use the ITRA logo on their letterhead or indicate in any way that they are members of ITRA.

ITRA reserves the right to take legal and any other action deemed necessary against any such expelled member who purports to be a member of the Association by continuing to use the Association Logo on their Letterhead, business cards, website, or any other advertising medium.

Suspended Member

A suspended member may continue to show the ITRA logo and advertise the fact of membership during the term of any suspension. During such suspension he will not be able to lodge a complaint against anyone or use the services of ITRA. However, if, during the term of the suspension any other complaint is received and proven which results in another suspension the suspended member will not be able to use the ITRA logo as for an expelled member.

If three complaints are received against a member resulting in a suspension each time, the member will automatically be expelled from the Association at the end of the third period of suspension for not less than three years. The expelled member may then re-apply for membership to ITRA in the usual way.

The Forum Chairman will be the Head of ITRA and in his absence, The Secretary General of the Association at the time.