Holiday Clubs (Long term holiday product): voluntary withdrawal after the second payment.

For those that have signed a contract, after the 18th March 2012, for a Long Term Holiday Product, perhaps you should know that according to the Spanish Legislation (RDL 8/12 and Law 4/12) you, the consumer, may terminate the contract, after the second year, by giving notice of termination to the trader no later than 14 days after any day on which the consumer receives a request for payment of an installment and without incurring any penalty.

You must bear in mind that a trader must not accept any payment in respect of a long-term holiday product contract unless the payment is made in accordance with a schedule which complies with the requirements of the Law. The schedule must provide for all payments under the contract (including any membership fee) to be divided into yearly installments of equal value, taking into account the duration of the contract.