Bulletin Board

FOR YOUR RECORDS

TaraNova has four home-based vacation properties. TaraNova management, together with your elected board, assess property use and maintains those resorts that best suit the demands of our member base with the view to keeping maintenance fees as low as possible while offering properties that are requested by our members; provide rental income; and/or offer trade value in RCI and TAP. Our lease in Imperial Lakes Lakeland Florida was discontinued in 2015. Due to the very low demand for the Mulbury area, we did not pursue another lease. Our members have been able to deposit their weeks into their RCI accounts and with the large volume of weeks available in the Orlando area, many of our members have been successful in exchanging into the Orlando vicinity. Those members that bank early with RCI are also benefiting from the high trade value for their TaraNova week and exchanging while still retaining trade value to be able to use for additional vacations. TAP weeks are also available for exchange or Credits to secure Florida and other locations.

IMPORTANT INFORMATION
(Payments/Transfers/Resale/Did You Know)

DID YOU KNOW? & DON'T FORGET!

1) DUES: Maintenance Fees are invoiced in US dollars. Remit when invoiced in US dollars to TaraNova Vacation Club with name/membership number on ALL payments. Yearly maintenance fee invoices are deemed to be mailed on or before October 31st of each year for the upcoming year. Payment must be made on or before December 1st of each year for the upcoming year, unless otherwise stated on Invoice. If your maintenance fee invoice is not received by Nov 15 each year, contact the Club. Late payments will result in late charges, interest & breach penalties Reservation & Banking Requests are not accepted with postdated payments. See Important Payment Information below. In the event of a Mail Strike, invoices will be deemed as sent by e-mail. It is the members' responsibility to ensure that Maintenance Fees are received by the Club on or before December 1st. Please make arrangements to pay your Maintenance Fees on time in order to avoid late fees and interest.

2) BIENNIAL AND PREPAID WEEKS: You must pay the total amount of current dues established by the Club for the year applicable to the week utilized. For future years use, you must pay the dues at the current rate and you will be invoiced the difference when the dues are set for such future years. The balance owing for prepaid amounts must be paid immediately upon notification of any increase, or reservation and/or banking will be cancelled.

3) COMMUNICATION: All communication must be received by the Club in writing with name & membership number. Member is responsible to contact the club to confirm receipt. Send contact information to RCI directly.

4) CANCELLATION OF RESERVATION: You may cancel your confirmed TaraNova reservation up to 60 days prior to commencement date. Written notice of cancellation is the only form that will be accepted. A Fee is assessed for each cancellation and/or change. Also see #9 for CAP.

5) TARANOVA GUEST CERTIFICATE: Guest certificates must be purchased for anyone, other than the member(s), using the resort. The designated guest must be over 21 yrs. Only members and holders of a Guest Certificate will be entitled to check into the resorts. Resorts may require photo proof of identity. The resort has the right to refuse entry into the unit if proper forms and identification are not presented.

6) CLUB GOVERNANCE: Your Club is governed by an elected Board of Governors that oversees the financial state of the Club. Your unique Vacation Club protects the members by having properties held in trust for the benefit of the members by companies controlled by your elected board. The Board's mandate is to ensure excellence from all facets, and to be accountable to all Members for any and all decisions that may affect the well-being of the Club. In order to keep maintenance fees as low as possible, and offer valued properties, TaraNova Management assesses the property use and maintains those resorts that best suit the demands of our member base. Any member in good standing may seek election to the board.

7) ADMINISTRATION FEES: Contact the Club for assessed fees on all Administration functions. Fees are US dollars unless otherwise stated.

8) JOINT MEMBERSHIP: In the event of a death, the survivor becomes the sole owner. To leave your portion to someone else, you must do something during your lifetime or in your Will. Unless advised in writing, joint membership rights may be exercised by either member.

9) CAP � Cancellation Administration Package: Payment for the Package if available must be made at time of reservation. CAP may be discontinued at any time. The CAP is available only for some designated TaraNova based resort reservations and is not available for second booking of a cancelled reservation. The CAP does not cover any insurance with respect to any other aspect of your vacation. We recommend members ensure to have adequate insurance for: travel; health; trip interruption; car; air and other transportation; theft; and any and all other insurance as may be necessary during your vacation. CAP is not available for TAP or RCI weeks.

10) UTILIZATION OF WEEK(S): Weeks must be used in the year of entitlement at TaraNova or banked with RCI or any other exchange program the member may utilize. Weeks not used through proper procedures will be lost. Dues must be paid for the week/year you are requesting to use. Weeks are subject to availability, given on a first come first serve basis*. You may prepay dues to reserve weeks in the future based on the reservation procedures at each of TaraNova, TAP and RCI. All requests must be sent to the Club in writing. (*Club reserves the right to limit member use during specific holiday weeks such as Xmas, New Years, Spring Break, & Summer Holidays and multiple member requests in order to ensure that all members have the same right of access to high priority weeks at each resort. No specific unit is guaranteed.) You may reserve your TaraNova resort up to one year in advance of your check-in date (subject to availability). Resort availability may be limited due to restrictions that may be amended from time to time. There are NO BANKING facilities at TaraNova. TaraNova may offer the ability to hold-over weeks for a fee, from time-to-time, based on the next year availability. (This may be discontinued at any time without notice.) Hold over weeks are on a restricted use policy. Your membership is for a 2-bedroom TaraNova unit, floating week, floating resort.

a) RCI: You may request to bank with RCI up to 2yrs in advance on a first come first serve. Last day to bank for any current year is November 15. Contact RCI directly to verify receipt of banked week.

b) TAP: Credit and exchange weeks are limited. Once you have determined if you want to deposit for exchange or credit, the deposit cannot be reversed or switched. Cash Back cheques are made payable to the first name on the membership and take approximately 90 - 150 days for processing. Advise TaraNova directly of any change in contact information and name changes and the information will be forwarded to TAP. Amount of Credit each year to be determined by TAP. Hold requests cannot be put on for the same week a 2nd time with TAP. Only "live" future inventory may be used for TAP. If your membership is not renewed or it is cancelled, all CREDITS, deposited EXCHANGE WEEKS or requests for CASH BACK will be cancelled and all your rights pertaining to the Advantage membership will be forfeited.

Always check the details of the resort you wish to confirm:

  • Are there are any additional fees to be paid at the Resort. Different resorts may have: Utility Fees, Maid Service, Linen charges, Entertainment Fees and other additional fees.
  • If the resort is "Mandatory All Inclusive", please check the price and what is included and excluded from the all inclusive Package/Price.

11) TRANSFER OF MEMBERSHIP: If you wish to sell, transfer or amend your membership, contact the club for all forms and current fees. Memberships must be transferred into the name of a person, not a business or other entity. All amounts outstanding to TaraNova including but not limited to dues, late fees, breaches, contract payments and any other amounts, must be paid in full prior to approval of Club. Check with TaraNova before signing with ANY resale or transfer company.

12) EVENT of FORCE MAJEURE: The Club is not responsible for units that are uninhabitable due to "Event of Force Majeure" as per the recently changed (for clarification) Section 3.04 of the Rights & Obligations. The term "Event of Force Majeure" shall mean:

  • an act of God or public enemy, fire, explosion, perils of the sea, lightning, earthquake, storm, flood, declared or undeclared war, revolution, insurrection, riot, act of piracy, act or threatened act of terrorism, sabotage, blockade, embargo, accident, epidemic, or quarantine;
  • an action by a governmental authority which prevents or delays performance of our obligations hereunder; or
  • a strike, lockout or other labour unrest resulting from any cause whether the demands of the employees involved are reasonable or within our power to concede.

Maintenance Fee Information

IMPORTANT: PAYMENT INFORMATION

Your Maintenance Fee Invoices are deemed to be mailed each year on or before October 31st. If you do not receive your invoice by November 15 of each year, please contact the Club and we will provide the invoice information and forward an e-mail or mail another copy to you. Please note: In the event of a Mail Strike, invoices will be deemed as sent by e-mail. It is the members' responsibility to ensure that Maintenance Fees are received by the Club on or before December 1st. Please make arrangements to pay your Maintenance Fees on time in order to avoid late fees and interest. Maintenance Fees are invoiced in US dollars and are due on or before December 1st each year, unless otherwise stipulated on the invoice. Please send cheques, money orders or bank drafts in US funds. Unfortunately, due to new banking rules, we cannot accept Maintenance Payments on your Canadian Cheque with USD written on the cheque. This process has been cancelled by the bank. Due to the increased volume of counterfeit bills, and for the safety of our staff, TaraNova will NOT be accepting CASH. TaraNova's US/Canadian exchange rate is SIGNIFICANTLY higher than the exchange rate at the bank.

We receive thousands of pieces of mail and cheques during this season. If any payment is received without a name and membership number, it may not be applied to your account. Many members have the same last name. This could result in your account being delinquent and a late fee assessed to your account. Also, your reservation or banking request may not be processed due to lack of information. Please do not assume that if you have the information on one piece of information/request/cheque etc. that it will be transferred to the other items that you have sent. Ensure that you have your name and membership number on ALL correspondence.

Send all requests regarding invoices, dues payments, purchase of new memberships, banking, reservation, change of address, transfers & general inquires to club@taranova.com.

Our credit card merchant number may only be used for Canadian currency payments. The TaraNova rate of exchange is SIGNIFICANTLY higher than the bank rate. Please contact club@taranova.com before you send in your credit card information or your Canadian cheque to pay your account. TaraNova will advise you of the Canadian amount that will be charged on your credit card. This amount must be included in your e-mail. Please read the back of your invoice for payment details. Please note that we cannot process Canadian, American or any other credit cards in US currency. The amount will be converted to the higher Canadian amount and you would then be charged a fee by your credit card company to convert it back to US funds. This would significantly increase your payment amount.

We offer the ability to pay in Canadian funds on credit card, bank draft, cheque, or money order, as a convenience only and this ability may be discontinued at any time without notice. The majority of TaraNova costs are paid in US funds and TaraNova does not want to incur exchange charges and bank fees to convert the Canadian back to US funds. Please note that Canadian payments are NOT taken at Canada Bank published rates. The TaraNova rate of exchange is significantly higher than the bank rate.

TaraNova does not offer on-line banking payment services. Payment information by E-mail is only available to provide credit card information and confirmation of the amount to be processed. We DO NOT maintain on-line banking facilities or the ability to accept payments transfers.

DO NOT SIGN WITH A RESALE OR TRANSFER AGENT or TRADE-IN BEFORE CONTACTING TARANOVA!

There is a growing list of Resale/Transfer companies that TaraNova will not deal with due to problems we have encountered with their transferees. TaraNova strongly recommends that you check with your Club before agreeing to any sale or transfer of your membership from a third- party company.

TaraNova understands that some of its members may wish to Transfer or Sell their membership. Family dynamics change! There may no longer be little ones to take on vacation; some of our members are reaching an age when they want to stay home; they may have lost loved ones; financial constraints; and there are many other different personal reasons. As TaraNova upholds its commitment to provide inventory for each entitled member, the membership base must uphold its commitment to pay their share of maintenance fees every year. TaraNova's ownership or lease of properties requires it to maintain the properties, whether the are fully used by the members.

To ensure that the maintenance fees are continued to be paid, TaraNova does not allow corporations to take over a membership. We require that the membership must be in a personal name as many companies can close leaving the Club no recourse to ensure that the dues continue to be paid. For the same reason, we may not approve transfers to people outside of Canada as it is difficult to collect any outstanding amounts from foreign members. Unpaid maintenance fees would negatively impact the financial status of the Club. Even for those transferees living in Canada that the club might consider, we require photo ID including a copy of the prospective members' passport, proof of residence, and a completed detailed credit application, before the Club considers the transfer. Transfers completed through a third party must pay 5 years up-front future maintenance fees in order to ensure continued maintenance payments.

If you are considering a Resale or Transfer Company, please do not advance any funds to them upfront. If you wish to trade in your TaraNova unit at a different resort, please remember that you cannot transfer the membership into a company name AND the new member must be approved by the Club. Therefore, the trade-in most likely will not be valid and you may be responsible for the amount the new company gave you as trade-in value and you will still be responsible for maintenance fees. Until TaraNova approves any new member, the membership will remain yours and you will continue to have all the benefits and obligations pertaining to the membership. Our "TaraNova" transfer papers must be duly executed and approved by TaraNova before a transfer may occur. Transfer fees must be paid, and prepaid maintenance fees are required. Even if you pay upfront to a resale company and sign a third-party transfer or purchase agreement, you will still be required to pay your continuing obligations to the Club until it has approved the transaction. Some Resale/Transfer companies may find you a transferee that will not or cannot pay the on-going maintenance fees. Several Resale/Transfer companies close once they have received your funds, and many just reopen under another name. If you need any assistance in this matter, please contact TaraNova at club@taranova.com.

Your TaraNova membership is yours to sell. However, in order to protect the member base, TaraNova must be able to ensure that the new purchaser has the resources to continue with the membership for the full term. We have transferred many memberships to family, friends and other individuals once we have been satisfied that the transferees are willing and able to assume both the benefits and the obligations of the membership.

If you are planning on Purchasing, Selling, Transferring, or using a Resale/Transfer Agent, please contact the club directly at club@taranova.com.

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