Legal Stuff

YOUR USE OF REDWEEK'S EXCHANGE PROGRAM IS OUR CERTIFICATION THAT YOU HAVE RECEIVED THE FOLLOWING INFORMATION. IF THESE THINGS ARE IMPORTANT TO YOU PLEASE PRINT THIS PAGE FOR YOUR RECORDS. PLEASE ALSO KEEP IN MIND WE ARE CONSTANTLY WORKING TO IMPROVE OUR SERVICE AND MAY CHANGE THE INFORMATION ON THIS PAGE TO REFLECT THOSE CHANGES. THESE CHANGES MAY BE MADE WITHOUT PRIOR NOTICE.

This current version is 1.8 dated August 20, 2009

1. OUR COMPANY
   1. The name of our company is: RedWeek Inc.
   2. Our location on the Internet is: RedWeek.com
   3. Our mailing address is:
      14201 SE Petrovitsky Road
      A3-319
      Renton, WA 98058
   4. We are registered as a Schedule C corporation in the State of Washington, USA
   5. Board of Directors: Randal G. Conrads is currently the only director
   6. Officers of the Corporation: Randal G. Conrads is currently the only officer of the corporation.
   7. Shareholders- the laws in certain states in which we are registered as an exchange company require a list of shareholders be available to exchange participants. View a list of RedWeek.com shareholders.
   8. Neither RedWeek Inc, nor any officer or director has any legal or beneficial interest in any developer, seller or managing entity for any timeshare plan participating in the exchange program
2. OUR AFFILIATIONS
   1. RedWeek Inc has no affiliation agreements with any resort, developer, or timeshare sales plan. Our Exchange Program relies solely on your individual ownership rights available for a property or the annual right-to-use the property. Virtually EVERY resort in our directory cooperates with the Exchange Program as designed.
   2. We will accept member deposits from any resort included in our site directory unless we have found them to be difficult or uncooperative or the quality of the resort itself is considered inappropriate for exchange. If this is the case it will be noted on the site's resort page for that resort.
   3. No one in RedWeek Inc. has any beneficial interest in any developer or timeshare sales plan.
   4. Your participation in RedWeek.com's Exchange Program is completely voluntary and independent of which timeshare unit(s) you own.
   5. No registrant or paying member in RedWeek.com is required to make a deposit of a timeshare interval except as desired by you to receive RedWeek Points for use in the Exchange Program.
   6. RedWeek Inc. has a contract with Dial An Exchange, an Australian-founded company with affiliate exchange offices in Arizona, England, Asia and South Africa. This contract provides for back-office handling of deposits and exchanges as well as a shared set of timeshare units offered.
   7. As of December 31, 2008 there are 4,946 resorts listed on RedWeek.com. Of this number only 48 are not participating in this program.
   8. The address for each timeshare resort is shown on the specific resort page.
3. OUR INVENTORY AVAILABLE FOR EXCHANGE (Data below is effective 12/31/08)
   1. The total number of units available for exchange is 10,756 units representing 10,716,714 RedWeek Points.
   2. The number of depositors in this exchange program is: 586 representing 999,954 original RedWeek Points allotted.
   3. The ratio of confirmed exchanges to requests: 100% to-date
   4. There were 278 confirmed exchanges for RedWeek members in 2008, valued at 344,305 points.
4. HOW OUR EXCHANGE WORKS
   1. The operation of our Exchange Program is described at this location:
      1. http://www.redweek.com/resources/exchange-member-guide
   2. The Terms of Service of RedWeek.com are shown at this location:
      1. http://www.redweek.com/tos
   3. Both the operation of the exchange and the terms of service are subject to change without notice. Each change is posted on our web site and the date of each new revision is posted as well.
   4. You must be a paid member of RedWeek.com to participate in the RedWeek Exchange Program.
   5. You must be a paid member at the time of submitting a deposit and at the time you choose to execute an exchange.
   6. Allowing your membership to lapse can lead to the early expiration of your qualified points.
   7. You must have access to the Internet to use our exchange program. Our representatives may use the phone to contact you if necessary but the expectations are all communication can occur via the Internet.
   8. To make a deposit you will be required to submit sufficient information to allow us to take control of your unit so that we may reassign it.
      1. This includes having paid the maintenance fees and whatever other fees are required by the resort to guarantee assignability of use.
      2. We will contact your resort using the information that you provide us to execute that transfer of control.
      3. DEPOSITS THAT ARE SUBMITTED AND PROCESSED CANNOT BE REVERSED.
   9. To make an exchange you will need to submit a request online by completing a form for the request.
      1. RedWeek does not currently accept requests for intervals we do not have in inventory.
      2. Your request will only be valid if the week you are seeking is displayed as available on our site. "Provisional Weeks" are not available weeks.
      3. Making a request on a displayed unit does not guarantee you will confirm the reservation on that unit. It is possible that someone else will obtain that unit by making the same request sooner than you or, in the future, by having a higher priority by virtue of having made their deposit earlier.
   10. Provisional Weeks
       1. Provisional weeks are those that have been identified by their owners as owned, not yet deposited elsewhere and potentially available provided the owner finds a suitable exchange on RedWeek.com in the future.
       2. While we have programmed the ability for each member to request alerts on these provisional weeks when they are actually available there is no guarantee that they will ever be deposited by their owners.
5. VALUATION OF YOUR DEPOSIT
   1. The first step in our process is to obtain a quote for the valuation of your unit.
   2. The number of RedWeek Points offered for your unit are based on several factors designed to be sensitive to market-based valuations. These currently include:
      1. Geographic region
      2. Season of the year
      3. Size of the unit in terms of number of bedrooms
      4. Reported quality of the resort
      5. A factor specific to the resort reflecting experienced demand
      6. A factor that reflects the number of days between the deposit offer date and the days to check-in for the interval offered.
   3. Each of the above factors is subject to change as we refine the models that we have developed and as conditions such as economics and resort quality change over time.
   4. In addition, RedWeek will limit the number of total units accepted from depositors for a given resort and the number that will be accepted for any given calendar week at that resort.
   5. RedWeek also reserves the right to provide different "bid" and "asked" prices for the same unit in a given resort. These differences will come primarily from the change in days to check-in which affects our risk of being able to exchange a deposited unit before the reservation date.
6. VALUATION OF OFFERED EXCHANGES
   1. "Asked" prices for our exchange offerings are set in a similar way using the same factors as the bid process.
   2. As stated above, these factors are subject to change as we refine our models or as market conditions change.
   3. RedWeek may provide different "bid" and "asked" prices for the same interval in a given resort. These differences will come primarily from the change in days to check-in which affects our risk of being able to exchange a deposited unit before the reservation date.
   4. Asked prices may also be lowered to affect a "sale" used for promotion or other business reason.
   5. Weeks offered to exchange members that go unused (i.e. expire) are removed from the website. After weeks are deposited in the system and available for members to exchange for 14 days, they may be made available to our members to rent at full market values as well as to our exchange program. This is designed to reduce the potential for them to go unused.
7. REDWEEK POINTS - EXPIRATION AND VALUE
   1. From the date of your deposit you have three years (1,095 days) to use your deposited points in a RedWeek exchange. If no request is received in that period they will expire and there will be zero value in our system.
   2. You must remain a paid member of RedWeek.com to retain your RedWeek Exchange Program points.
   3. RedWeek Points have no cash value, and no value outside the RedWeek Exchange Program.
   4. You must be a paid member of RedWeek.com to participate in the RedWeek Exchange Program.
   5. You must be a paid member at the time of submitting a deposit and at the time you choose to execute an exchange.
   6. Allowing your membership to lapse can lead to the early expiration of your qualified points.
8. FEES
   1. Current fee schedule: (December 31 2007)
      1. Membership in RedWeek.com: $14.99 for 12 months. Please note that you will only purchase one membership that will enable exchanges for any number of units that you own.
      2. Deposit: no charge
      3. Exchange execution: $125 (no difference for domestic or international exchanges)
      4. Cancellation Protection Option: $49
      5. Upgrade fees: $1 per point
      6. Guest Certificates (using a name other than your own for the reservation): no charge
   2. These fees may be changed at any time by RedWeek Inc. The only notice may be posting on the web site, RedWeek.com.
9. PRIORITIZATION FOR EXCHANGES
   1. All of RedWeek's available inventory is displayed on our web site.
   2. After submittal of a new deposit by a member, we contact the resort to confirm the ability to assign of the unit.
   3. The unit is not considered available inventory until this process is complete.
   4. Currently, obtaining an exchange is accomplished in real time online.
   5. The exchange is awarded to the first "qualified request" submitted.
   6. A "qualified request" is one where the points from deposited units provide at least 50% of the value of the requested unit, and sufficient payment has been offered for any shortage and the required exchange fee.
   7. Members are alerted by email as to the new availability of exchanges based on requests made on the site for such alerts.
   8. In the near future, a priority period will be available allowing priority to shift to requesting members with the earliest deposit. Details of this new priority will be made available here when the process is fully developed.
10. ADDITIONAL STATE REQUIRED DISCLOSURES: Please note the following information which is required by certain state statutes and is effective yearend, 2008.
    1. Date of RedWeek Exchange Program launch: May 20 2007
    2. Period covered for the following data: January 1 to December 31 2008.
    3. Number of purchasers enrolled in the exchange program: 586 confirmed deposits, representing 993,157 original RedWeek Points.
    4. Number of accommodations and facilities that have current written affiliation agreements with RedWeek.com: NONE (Note this is not part of our exchange model.)
    5. The percentage of confirmed exchanges: 100% (requests are accepted for existing inventory only).
    6. Number of timeshare periods for which the exchange program has an obligation to provide an exchange to a purchaser who relinquished a timeshare period during the year for a timeshare period in any future year: 586 representing 999.954 points (this is net of exchanges made in 2008)
    7. The number of exchanges confirmed by the exchange program during the year (January 1 - December 31 2008): 271 representing 334,305 points
    8. Percentage of qualified requests received that have been fulfilled: 100% (no requests are accepted unless the inventory is available).
    9. THE PERCENTAGE DESCRIBED IN (h) ABOVE IS A SUMMARY OF EXCHANGE REQUESTS ENTERED WITH THE EXCHANGE PROGRAM IN THE PERIOD REPORTED AND DOES NOT INDICATE THE PROBABILITIES OF A MEMBER BEING CONFIRMED TO ANY SPECIFIC CHOICE OR RANGE OF CHOICES. (Required statement - the applicable percentage is not yet available)
11. ADDITIONAL INFORMATION THAT WE, REDWEEK.COM, THINK YOU WILL FIND RELEVANT HERE - As of December 31, 2008
    1. Total number of weeks available for exchange: 10,756 (This includes all weeks offered on our web site whether deposited by our members or obtained through our partners.)
    2. Total number of RedWeek points this represents: 10,716,714
    3. Total number of RedWeek points owed to RedWeek.com depositors: 999,954
    4. RedWeek Exchange Illinois License No. 087.0000043

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