Membership RulesMembership Rules
|Original (Brief) Version of the Members Agreement
1. The LETSystem (LETS) keeps a system of accounts in a quasi-currency,
providing an information exchange and recording service on trading for
the benefit of members.
2. Only the account holder can authorise a credit transfer from their
3. All credits and debits are interest-free
4. All accounts start at zero.
5. Members are entitled to know each other's balances and turnovers.
6. Members may decline any particular invitation to trade.
7. The LETS makes no warranty as to the quality, condition or value of
8. Any tax or insurance liabilities are the individual responsibility
of members involved in a trade.
9. LETS are nonprofit agencies, covering their running costs on a cost-of-service
10. LETS can be independently organised by any local group, but should
be democratically run and accountable to the members.
As part of the Harrow LETS relaunch, we are developing a more formal
set of rules - see Draft Agreement and Draft
Constitution - to be confirmed at an AGM.
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