Eco & Alternative Old CamLETS home TIPS to start a LETS LETS links

Official CamLETS web site => www.cam.letslink.org

Below on this page you find:

On other pages you find:

• TIPS to start your own local LETS
• LETS in Europe and world wide (Jan '01)

What is CamLETS? Questions & Answers

Cambridge has had its own LETS , CamLETS (Cambridge Local Exchange and Trading System), since early 1993, and it continues to grow...

What does it do? Basically, it enables people to exchange skills by means of a sophisticated barter system. You get things done for yourself by doing things for others.

How does it work? Members list their 'offers' and 'wants' in a directory which includes everyone's phone numbers. The directory is updated regularly and distributed to all members who can then exchange services.

How can they do that? Everybody gets a special cheque book for making payments in a local currency, used only by members. In Cambridge the unit of currency is called the 'cam' and one hour's work is approximately worth 10 cams. That way you don't have to have a direct bartering exchange.

You mean I can earn 'cams' teaching someone Spanish and use them to pay someone else to babysit? Exactly. In fact you can get a babysitter, or have a shelf put up, or whatever, and then earn the cams.

And there's no ordinary money involved? There's a small annual subscription (currently £10) to cover running costs. If an exchange involves some Sterling costs (materials, for example) you can charge for them.

And it's legal? Of course! Some 300 towns in Britain now have LETS. They trade in 'acorns' in Totnes, 'bobbins' in Manchester, 'Saints' in St. Neots and so on..
LETS are spreading across the world and people are adapting the idea to local situations. And LETS currency is inflation-free!

OK, tell me more! These are some of the questions frequently asked:

What skills can I offer? Anything you like doing. Or anything you're good at.

I don't have much time - how can I take part? You can use CamLETS as often or as little as you wish. You are under no obligation at any time.

Isn't it complicated? No, not at all. It's very simple and straightforward, and a lot of fun.

How do I use the 'cams'? If you do something for another member they write out a 'cam' cheque for an agreed amount, usually on the basis of 10 cams per hour, and you send it off to be recorded in your account.

Are transactions taxable? Almost all LETS trading is of an 'occasional social favour' type and not taxable.Only if you trade in cams as part of your regular business would you be liable to tax.

Suppose I go into debt? You are encouraged to do so! Since no 'money' is printed, and everyone starts at zero, the whole system always has the same amount in debit as in credit. If you go too far in debit you may be asked to earn some cams; similarly, if you start hoarding too many cams you may be asked to start spending!

Can't the system be abused? Not really, because it's a social network and there are safeguards (for example all accounts are published). Also any temporary 'bad debt' does not affect any individual member: no member loses credit for work done.

Can I buy and sell things too? Yes, and you can advertise in our newsletter and on a notice board at our meetings.

If I join how do I contact people? You can phone them or meet them at one of our monthly social gatherings. It's an excellent way of making new friends.

So, how do I join? See Contacts for membership below.

When do we meet?

The next Trading (& other) Events 2001 are as always open to newcomers:

• Sunday trading for September and October 2002 was included in the newsletter in error. There will be no Sunday trading on these dates.

CamLETS Membership & contact

CamLETS - Membership Secretary
NEW address from spring 2005: P.O. Box 483, Cambridge, CB5 8WX
. . . and off you go trading with Cams!

other LETS Contacts around Cambridge:

Only Connect - Network for skills exchange conviviality in Cambridge

Ely LETS (trading with Eels):

LETS Peterborough (trading with Plets):

LETS NorthHerts (trading with Norts):

LETSlink UK: