Membership Rules

Membership 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 account.
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 items exchanged.
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 basis.
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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