How LETS Works

THE BASICS...

1. Local people set up a club to trade between themselves, keeping their own record of accounts.

2. A directory of members offers and requests- goods, services or items for hire, priced in local LETS units- is compiled and circulated.

3. Members use the directory to contact one another whenever they wish. They pay for any service or goods by writing a LETS cheque or credit note for an agreed amount of LETS units.

4. The credit note is sent to the LETS book-keeper who adjusts both members’ accounts accordingly.

Please note; Due to confidentiality issues, the SEELETS Directory (and updates) is not at present viewable on this site, although we will consider this possiblity if we can effectively overcome security issues. In the meantime it’s available to members only by trusty Snail-


USING THE LETS DIRECTORY...

The Directory is where members list the skills, goods and resources they are offering and those they want. Here are some tips for traders;

When you contact another member to make a trade, make absolutely sure that you both are clear about what you are trading and for how much.

Make sure you know if there is a portion to pay in sterling, and what costs there may be, eg, for travel, materials etc.

Remember everything is negotiable, so if you are not happy with the price, haggle!

An entry in the directory is no guarantee of quality. Try to make sure the person you are employing is up to the job. Most members are competent at what they offer, but few are professional. So check with them first. You can also ask another person who has previously traded with them if they were happy with the job.

If someone contacts you requesting your service, be honest- if you can’t do it- say so. If you havn’t got the time, don’t arrange to trade until you have. If you make arrangements with someone, keep to them, or tell them that you can’t in good time.

Only advertise what you are willing and able to offer. If you offer what you enjoy doing, it will be easier and more fun.

LETS is here to put people together, to help match skills with needs. As an organisation we cannot take responsibility for the cost and quality of any trade that members make. Having said that, if you do have a problem, and need it sorting out, contact the co-ordinator. But if you follow the above points, problems are unlikely.

HOW DO I JOIN?

Complete the supplied membership form giving your details and listing your offers and wants, and return to the SEELETS address (see homepage) with the appropriate membership fee (this is to cover stirling costs such as postage, printing, hire of halls, etc) as detailed below.

You will receive a LETS Directory which is confidential to members only and credit ‘cheque’ slips which are to be completed and returned to the co-ordinator whenever you trade.

A full directory is published three times a year, with bi-monthly ‘update’ sheets with information about any interim changes of offers and wants, or new members details.
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Members also receive regular newsletters and bulletins, which include dates of any forthcoming events such as socials, members meetings or LETS auctions.

SEELETS ANNUAL MEMBERSHIP CHARGES

Waged- £5.00 per year
Unwaged/low income- £4.00 per year
Group/household/joint/organisation- £6.00 per year
Under 16 years old- £1.00 per year
There is also a one off deduction of 15 Piers from each new member’s account to cover admin costs.

Unlike direct barter, with LETS you can earn credits from any member and spend them with anyone else on the scheme.

LETS is non-profit making and interest free. Service costs are covered by minimal charges on the accounts in local credits, whilst expenses that cannot be paid in local currency (eg, postage, printing costs, etc) are covered by a small annual subscription charge)

Some recommended books about LETS:

‘LETS Work- Rebuilding The Local Economy’- Peter Lang (Grover Books)

‘LETS Act Locally- The Growth Of Local Exchange Trading Systems’- Jonathon Croall

‘LETS On Low Income’- A report by the New Economics Foundation

‘Local Food Links- New Ways Of Getting Organic Food From Farm To Table’- Judy