Local Exchange Trading Systems (LETS) are locally initiated,
democratically organised, not-for-profit community enterprises that
provide a community information service and record transactions of
members exchanging goods and services by using the currency of
locally created LETS Credits. LETS networks use interest-free local
credit so direct swaps do not need to be made. In LETS, unlike
other local currencies, no scrip is issued, but rather transactions
are recorded in a central location open to all members. As credit
is issued by the network members, for the benefit of the members
themselves, LETS are considered mutual credit systems.
Local Exchange Trading Systems (LETS) also known as LETSystems are
locally initiated, democratically organised, not-for-profit
community enterprises that provide a community information service
and record transactions of members exchanging goods and services by
using the currency of locally created LETS Credits.
Local Exchange Trading Systems (LETS) also known as LETSystems are
locally initiated, democratically organised, not-for-profit
community enterprises that provide a community information service
and record transactions of members exchanging goods and services by
using the currency of locally created LETS Credits.[
