The Exchange Cancellation Fund provided by HomeLink USA is a fund developed to compensate US members who suffer last-minute exchange cancellations (due to illness, personal crisis, etc.) by their exchange partners. If the US members have already made financial commitments (booked flights, etc.) to vacation in a particular destination, they will consequently require commercial accommodation such as hotel, motel, or Bed and Breakfast.
The premiums ($25/year) are placed into a fund accessible only to contributing members of HomeLink USA during that particular calendar/membership year.
In any one year the fund's total is entirely dependent upon the number of participants and the amount of premiums contributed. And the amount of compensation available is dependent upon the number and amount of claims. Because accommodation expenses incurred by a family during a typical vacation can vary widely, we have to be conservative in our promise to provide "partial compensation" up to $5000.
In order to qualify for coverage, participating members named below must: a) submit HOMELINK INTERNATIONAL Exchange Agreement Forms (printed in directory and posted online) signed by both parties as soon as exchange arrangements are confirmed; b) arrange exchanges only with other registered current members of HomeLink International; c) immediately when exchange partners cancel plans, request written explanation (proof) and submit this to HomeLink USA so that we can attempt to locate a substitute at/near (your) desired destination.
If no substitute can be found, (you) the members go ahead with their vacation plans in their original intended destination, stay in commercial accommodation, and send us a detailed accommodation-expense statement.
On December 31 we honor all claims of that membership year by splitting the fund, on a pro-rata basis, amongst claimants. The compensation, therefore, could be total or partial.
Premiums are payable by clicking on the link, "Exchange Cancellation Fund", found under "US Functions" at the left of the page after logging in as a member. Next click on the link, "Pay Fund Premium Now" found at the top of the fund's description.