The following terms are generic to the vacation ownership world and all may not apply to your home resort, but may come in handy when you exchange.
Assigned Week
The week you select and use each year for your vacation.
Bank/Banking see deposit
Banked week
A credit due as a result of depositing a week with Interval International.
Bonus Time
Use of your Home Resort during times other than the time you bought.
Deposit
A Unit/Week given to Interval International with or without the concurrent submission of an Exchange Request and prior to confirmation of an exchange into the deposited Unit/Week.
Developer
The entity that develops, markets, and sells interests in a Resort.
Exchange
Your use of a Unit/Week other than that which you own or have reserved at your own Resort (In-House Exchange) or another Resort (external Exchange).
Exchange Confirmation
Written notification from Interval International or other exchange company that your exchange request has been fulfilled and that accommodations have been made available at a Host Resort.
Exchange Fee
The fee paid for a confirmed Exchange.
Exchage Request
An application for an Exchange which may or may not be concurrent with the Deposit of a Unit/Week.
Family of Resorts
A select group of resorts that Interval International has developed a special relationship with, making it easier for you to exchange into them.
Fixed Time
This guarantees you will be able to use the same week you purchased every year provided you are not delinquent in your financial obligations.
Home Resort
The Resort where you own an interest or are a Member.
Host Resort
The Resort into which you have a confirmed exchange.
Occupancy
The maximum number of persons that may be accommodated in a Resort unit.
Owner/Member
Anyone other than the Developer who has acquired a shared interest in a Resort.
Season
That period of the year which you have purchased at your Home Resort as defined by your purchase agreement. Also, various periods of the year as defined by the Host Resort involved in an exchange.
Unit/Week
A timeshare estate, interest, or license; a week, unit week, or any other right to occupy accommodations for a specific period of time at a Resort.
Upgrade
The assignment of an exchange or Use Week in a more desirable Season or Unit of greater Occupancy than that deposited by that client.
Upgrade Fee
The amount paid for an Upgrade.
Use Week Confirmation
Written notification from Interval International that your use week has been assigned and may be used at your Home Resort, submitted for exchange, or rented out.