New Standards for Timeshare Practices.

March 17, 2010. -  The Mexican Government issued the Mexican Official Standard NOM-029-SCFI-2010 which establishes new business practice standards for timeshares.  The important part that concerns you is section 5.5.14 which states:

5.5.14  Membership contracts should incorporated a section for the termination or cancellation of the contract, a clause referring to:

a) The period within which the consumer can cancel the service timeshare without suffering prejudice in payments, the time limit can not be less than five working days from the next business day to the signing of contract.

b) The return of the total initial investment should be, at most, within fifteen working days from the date of cancellation of the contract.

c) The cancellation must be made in writing at the place where the operation has been completed or the address of the supplier or the supplier intermediary or representative of the company or email provider, supplier and intermediary point in the contract or by the means provided for in the Act.

The key parts are that 1) the cancellation period must be at least 5 working days starting from the day after you sign the contract, 2)for your cancellation you will not suffer any prejudice in payments (you get a full refund) and the return of your total initial investment (you get all your money back) shall be within 15 days, and 3) cancellation by email is acceptable.


For More Information Contact:

Los Angeles, CA


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Last modified: 02/24/14