2 February 2022, Budapest - The Hungarian Competition Authority (GVH) has initiated proceedings against two undertakings and a non-governmental organisation, assuming that they are deceiving those who want to get rid of their timeshare rights. The GVH warns all consumers who plan to sell their timeshare usage rights to exercise major caution and attention.

         The GVH initiated proceedings against BFCS Kereskedőház Kft., BIÁS Trade Kft. and the Association for the Protection of the Interests of Injured Timeshare Owners, as they provide suspiciously misleading information regarding the sale of timeshare rights.

         The GVH issued a consumer warning last autumn, as market signals have suggested that some undertakings are repeatedly approaching citizens owning timeshare usage rights with misleading information. The commercial practices examined follow the pattern of behaviour in the warning issued last year: the owners are approached by telephone with the purchase of the timeshare right by an individual and the businesses concerned promise cash for eligibility, but in reality, instead pay in credits that are presumably non-cash in a closed purchase system, for which customers have to pay a range of charges. In addition, the transfer of ownership of the timeshare rights is unlikely to take place, therefore in many cases its significant annual maintenance costs will continue to be borne by consumers wishing to get rid of it. The GVH is also investigating the behaviour of the Association for the Protection of the Interests of Injured Timeshare Owners, whose activities presumably serve only to enable undertakings to gain the trust of the customers they contacted.

         The GVH recommends that those wishing to sell their such rights carefully review the details of the terms and conditions of each offer, and, prior to concluding the contract, be thoroughly informed about the reliability and consumer evaluation of the undertakings involved. It is important that consumers do not succumb to pressure during face-to-face meetings and make a considered, informed choice in each case.

         The initiation of the competition supervision proceedings does not mean that the undertakings have in fact committed the infringement. The proceeding is aimed at clarifying the facts and thereby proving the alleged infringement. The time limit for the completion of the proceeding is three months, which, where justified, may be extended on two occasions by a maximum of two months each.

         Official registration number of the case: VJ/4/2022.

GVH Press Office

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