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New Standards for Timeshare Practices.March 17, 2010. - The Mexican Government issued the Mexican Official Standard NOM-029-SCFI-2010 which establishes new business practice standards for timeshares. The important part that concerns you is section 5.5.14 which states: 5.5.14 Membership contracts should incorporated a section for the termination or cancellation of the contract, a clause referring to:
The key parts are that 1) the cancellation period must be at least 5 working days starting from the day after you sign the contract, 2)for your cancellation you will not suffer any prejudice in payments (you get a full refund) and the return of your total initial investment (you get all your money back) shall be within 15 days, and 3) cancellation by email is acceptable.
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