THE CHARTERED INSTITUTE OF ARBITRATORS

Home | Contact Us | Site Map | FAQs

Home > The Institute...

Members' Section: Login | Register

The Institute...

About the Institute

Apply for Membership

Courses

Print this page

Timeshare Trade Body, OTE increases industry credibility through new arbitration service

OTE and CIArb develop first pan European alternative dispute resolution service for cross border complaints on Timeshare.

March 17, 2005 - The Organisation for Timeshare in Europe (OTE) has today announced the launch of a new arbitration scheme that aims to solve complaints in the timeshare industry. By developing the arbitration scheme, OTE is building trust in the industry, by better protecting consumers who purchase from OTE members.

Developed in line with the European Commission Recommendation and administered by the Chartered Institute of Arbitrators, the new arbitration scheme is designed to handle complaints that are not resolved through the OTE’s standard complaint-handling procedures. The scheme will offer full independent analysis and judgment, and the arbitrator’s decision will be binding for both the consumer and the OTE member.

With annual revenues of nearly $10bn and 6.7 million timeshare owners worldwide, of which 1.5 million reside in Europe, the timeshare market is a significant part of the travel and tourism industry and over the next decade, is expected to grow twice as fast as the industry worldwide.

Although a trade association, OTE prides itself on being able to offer a free-of-charge service that allows consumers to address complaints about its 130 members. OTE currently solves 83% of all complaints to the satisfaction of the consumer.

Declan Kenny, Chairman of OTE’s Consumer Council said: ‘’We hope that this scheme will encourage consumers to be even more confident in their timeshare purchases. OTE is committed to strong ethical standards, raising the performance of the industry as a whole, ensuring fair-trading and greatest satisfaction of timeshare owners.’’

Ron Howell, Chairman of OTE’s Membership Council added: ‘’ We are pleased that both members and consumers will now be able to benefit from this new arbitration scheme. The CIArb was able to offer a service that could deal with cross border disputes. This is key in our industry and the CIArb’s record of success also gave us confidence in choosing them as our preferred supplier.’’

-ENDS-

Notes to the Editor:

About OTE

OTE is the pan European trade association representing the timeshare industry from all EU member states. It promotes best practice in the industry for the benefit of both consumers and the industry. All members are bound by a code of ethics which ensures the protection of consumers’ rights. OTE also provides information and advice to consumers and offers a free conciliation service to consumers dealing with its members.

About the Chartered Institute of Arbitrators

The Chartered Institute of Arbitrators (CIArb), founded in 1915, is a not-for-profit organisation. It is a global body, with headquarters in London and branches worldwide. With nearly 11,000 members in over 90 countries, the CIArb promotes and facilitates the resolution of disputes by arbitration and alternative means of dispute resolution (ADR) for a wide variety of business and commercial sectors. These include travel, media, technology and communications, financial services and insurance, sport, medicine, health, commodities, construction, shipping, engineering and the automotive industry.

In addition to the provision of ADR services, the institute also provides educational programmes around the world. In 2004 this includes China, Russia, Europe, the Middle East and Central Asia. Among its members are many respected international lawyers, engineers, accountants, surveyors, architects, business managers and other professionals.

For further information please contact:

Victoria Henry/Jenny Roberts

Kaizo

020 7580 8852

firstname.surname@kaizo.net

Anthony Arke

Chief Executive

OTE

00 322 533 30 60

aarke@ote-info.com

Quick Links

Membership

Courses and Events

Dispute Resolution

The Institute...

Meeting Rooms

Book Store

12 Bloomsbury Square, London WC1A 2LP