| What Are LETS? |
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L.E.T.S. (Local Exchange Trading Systems) allow people to exchange skills by means of a sophisticated barter system. You get things done for yourself by doing things for others. At the same time it's very sociable. Members list their 'offers' and 'wants' in a directory which includes everyone's phone numbers and email addresses. The directory is updated regularly and distributed to all members, who can then exchange services. Everyone gets vouchers for making payments in local currency, used only by members. In our system the unit of currency is called the 'let' and one hour's work is worth approximately 6 lets. By using vouchers you don't have to have a direct bartering exchange. So for example you can earn 'lets' teaching someone Spanish and then use them to pay someone else for a lift to the airport. In fact you start in credit and can pay for things with the vouchers straight away. |