VOASA - Code of Ethics

A Code of Ethics has been established by VOASA, in conjunction with the previous Business Practices Committee, to promote the long-term interests of the industry. All members of VOASA have agreed to comply with the terms and spirit of the Code. The bulk of the Code is applicable to everyone in the industry.

The full Code of Ethics is available on this website, under the main menu heading, Industry Information and Consumer Information, Shared Vacation Ownership Code of Conduct.

The following is a summary of the main provisions:

a) No activity, whether of an advertising or promotional nature or otherwise, conducted by any member, its subsidiaries, servant or employees, shall be such as to bring shared vacation ownership into disrepute or reduce the confidence of the public in the shared vacation ownership industry as a reputable service to the community.

b) Statements, presentations, descriptions, literature or documents used in any advertising or promotional activities:

• May not convey false or misleading information about the product;
• May not omit material information without which such information could have a deceptive or misleading effect on the consumer’s decision to purchase;
• Must be consistent; and
• Must be easily understandable by the consumer.

c) All shared vacation ownership products must be presented in advertising and promotional activity as an investment in future holidays. It is not primarily purchased for rental yield, return on investment or capital gain on resale.

d) Every contract must contain a provision entitling a purchaser to withdraw from the contract within 5 (five) working days of the purchaser signing the contract. Written notice of the withdrawal must reach the seller within the 5(five)-day period, at an address which must be contained in the contract. An electronic address and facsimile number must also be given and receipt of facsimile, email, telexes, telegrams or phonograms are stipulated as sufficient written notice by the purchaser.

e) Each contract must be accompanied by a checklist, entitled a Certificate of Purchase, which explains the essential elements of the contract. The checklist must be fully initialed and signed by the purchaser at the time of sale.

f) The shared vacation ownership resort or Points / Club product must be accurately presented without exaggeration.

g) Representations may not be made to the effect that there is a limited time for the consumer to accept the terms of an offer when such, in fact, is not the case.

h) The Contract of Sale must be made available to the client at the time of sale, before signing or before the contract becomes binding.

i) The client may not be discouraged from seeking professional advice.

j) Members may not withhold or unreasonably delay the provision of the signed copy of the Contract of Sale to the client. The client must be provided with a copy of the Agreement immediately after signature thereof.

Members of VOASA are required to display this abridged Code of Ethics in a prominent position at their sales offices. Should any member of the public have a complaint regarding a breach of this Code of Ethics, they are invited to address their complaint in writing to:

Vacation Ownership Association of Southern Africa
P.O. Box 2823 
Durbanville  7551
Telephone: (021) 914-9693    
Fax: (021) 914-5202                                                                          

Email:voasa@voasa.co.za

Useful links:

FAQ & membership queries
Members directory
Join VOASA
VOASA Code of conduct
VOASA 2010 Conference
 

Information and Downloads:

VOASA assists it's members by monitoring all new legislation and regulations concerning the entire shared vacation ownership industry in Southern Africa.

For more information and downloads pertaining to the various acts and legislation that effects all service providers within the shared vacation ownership industry.  

Shared vacation ownership regulatory body

VOASA

VOASA, previously known as the Timeshare Institute of Southern Africa, was established in 1990 as an organization representing the interests of the respective stakeholders with its primary objective being to “create, maintain and develop an environment within which the long-term viability and growth of vacation ownership through shared vacation ownership can be optimally ensured.”

Fundamental to the existence of VOASA, is its ability to self regulate and control the industry in such a manner that the national authorities, via the Department of Trade & Industry, is confident of its ongoing ability to manage and deliver a mature industry that instills confidence within all stakeholders and is positively perceived by the consumer at large.

A key contributor to VOASA’s existence is the protection of consumer rights and the stimulation of the ongoing growth within the industry in a positive and organized manner. VOASA introduced its Code of Conduct, through negotiations with the Department of trade and industry (Business Practices Committee), in which it outlines the intention to govern business practices within the shared vacation ownership industry by protecting the interest of both consumers and the industry and promoting an equitable, negotiated balance between these interests.

The Code embraces accepted ...

View VOASA profile

Q&A with Alex Bosch

The former Timeshare Institute of Southern Africa (TISA) recently re-branded to VOASA – Vacation Ownership Association of Southern Africa, why was this?

[AB] The Timeshare Institute of Southern Africa (TISA) was officially landed in 1993 with the mission and object intention to govern business practices within the Timeshare industry through a Code of Conduct to protect the interest of both consumers and the industry and promoting an equitable, negotiated balance between these interests.  The industry in 1993 consisted of conventional timeshare week modules utilised by timeshare owners.

The industry has since evolved through the introduction of new products based on the underlying timeshare structures such as timeshare points, vacation clubs, destination clubs and fractional ownership, giving the consumer greater flexibility and choice.  In 2007 TISA created a business strategy plan in terms of which these new products would be incorporated in the industry which had evolved to a model of shared vacation ownership products and to re-brand the industry, hence the name change and re-branding to Vacation Ownership Association of Southern Africa (VOASA) to embrace all stakeholders in the shared vacation ownership industry.

SAAFI also merged with VOASA - Does this imply that VOASA are the only shared vacation ownership body in Southern Africa?

[AB] VOASA is the only shared vacation ownership body or association with a code of conduct agreed with and mandated by the Department of Trade and Industry (DTI) – other informal associations may exist but are not known by VOASA.

Is VOASA a voluntary organisation?

[AB] VOASA is a self-regulated non-profit association funded through it's membership base with no governmental subsidy

How many members does VOASA have?

[AB] The current membership of  VOASA totals 197 members; the greater majority thereof being corporate entities

What services does your organisation offer vacation ownership companies and individuals?

[AB] VOASA offers guidance on legislation affecting the industry; ensuing that accommodation schemes are, structured correctly in terms of the required legal framework; attending on general enquiries or complaints received pertaining to the industry and an alternative dispute resolution through mediation.

What membership categories do you offer?

[AB] VOASA offers membership in Developer, Exchange Organisation, Owners Association, Brokers and managing agent categories.

What events to VOASA have planned for 2010?

[AB] VOASA will attend a stand at the Annual Indaba Exposition, various workshops for members as well as the Annual VOASA Conference in August 2010 in Durban

Has your organisation assisted resorts with offering accommodation for the 2010 FIFA world cup visitors?

[AB] VOASA assisted a number of timeshare resorts and vacation clubs to engage in discussion with MATCH, the accommodation arm of FIFA 2010, and to enter into agreements endorsed by VOASA.

What major changes do you for see for the shared vacation ownership industry over the next 12 months?

[AB] As in all property related industries, the shared vacation ownership market has been negatively affected by the current economic downturn.

Indications are positive that the economy and thus the property market will pick up later in 2010. Against this, our industry is faced with the challenges of the new Companies Act 2008 and the Consumer Protection 2008, both statures of legislation coming into effect during 2010; to balance the effect and the sustainability of the industry to positively grow.