LETS stands for Local Exchange and Trading system. People
in a community form a club to swap goods and service amongst each other.
For instance, person A may do 3 hours gardening for person B, who does
3 hours typing for person C, who may do some sewing for person D, who
may do some baby-sitting for person A. So each member has both given and
received a similar amount of work from other members.
But, they haven't been direct two-way swaps as in ordinary
barter, whereby trading can't occur unless two people happen to each have
something the other wants. Each person lists what they have to offer and
what they need. This is entered in the Directory together with the account
number and contact details, and sent to all members.
Using the Directory, the buyer contacts members in order
to trade. They write a LETS cheque for goods or services they have received.
The LETS cheque is sent to the local LETS Accountant who keeps a record
of all transactions (or you can do the transaction online). A list of
members' trading figures are sent to all members on a regular basis, as
are directory Updates - and may be viewed on the website.
One main advantage of LETS is that it helps people realise
that they do have something to offer. Whether they have skills or not,
their time, energy, or resources will be of value to someone. Just a few
examples are, shopping, lifting, cooking, cleaning, houseminding, lending
home equipment or tools. Start by asking yourself what you enjoy doing.
Have a look at the inspiration list, or look at the Directory to see what
other members are already offering. You may also, as a visitor, attend one
of our regular Bring and Share parties - for forthcoming dates check News
How does LETS Work? What
are the Rules of LETS ? Constitution