HUTCHINSON & CO TRUST COMPANY LIMITED
 Launched in 1992, Hutchinson & Co. Trust Company Ltd. was formed in 1990 on the foundation of more than twenty years' experience of its directors in the Vacation Ownership industry. Currently, the company has become one of the largest Vacation Ownership Trustees in Europe, as well as the largest in India and the Far East. This growth is based largely on personal recommendation and a reputation gained for providing a fast, efficient and friendly service to developers, marketers and purchasers alike. Their head office in South East Asia is in Bangkok.
WHAT DOES A TRUSTEE DO?
The Trustee's prime responsibility is to protect the interests of the Vacation Ownership purchaser by ensuring that they receive good title to the use of the week that they have purchased. By extension, this principle can also be applied to the protection of the developer and marketer of a project.
The trustee receives all funds paid by the purchaser and these funds are placed in an ESCROW account. Upon completion of the purchase of Vacation Ownership by the purchaser, the Trustee will distribute all funds to all concerned parties i.e. developers, marketers, etc and issue an ownership certificate to the purchaser which guarantees usage of their resort for the period of the lease stated in their purchase agreement.
As an extension of these services the Trustee can also collect maintenance fees and communicates on behalf of the resort with all owners and assist in other matters such as holding general meetings.
The purchasers' funds held by the Trustee are protected both by the Professional Indemnity Insurance and by the "Acknowledgement of Trust" provided by the Trustee's banker, confirming that the client bank accounts are protected against the financial failure of the Trust Company itself.
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