FAQs
FREQUENTLY ASKED QUESTIONS
WHAT DOES LETS STAND FOR?
LETS stands for Local Energy Transfer System. This is a non-profit community – based exchange system, where members swap goods, skills and services for points/credits instead of money – our group calls these credits “Diamonds”.
HOW DOES LETS WORK?
With direct bartering you only deal with one other person. With LETS you have many members to exchange with, thus giving you a wider scope of skills/talents to choose from.
WHAT IF I “SPEND” MORE THAN I “EARN”?
On joining new members are given a “gift” of 50 points (Diamonds) to begin trading. There is no problem with having a debit balance, as long as trading is reasonably even. An acceptable debit balance is an indication that, at some future date, you have committed to contributing to another member of the group, or to the group as a whole, by offering them a service. For advice please ring any committee member listed in the newsletter.
HOW DO I CONTACT A MEMBER FOR SERVICES?
Refer to the Directory, where all members’ skills and talents are listed, with their phone numbers and suburbs.
HOW WILL I KNOW THE COST OF A SERVICE?
ALWAYS ASK AND NEGOTIATE THE COST in points/Diamonds, BEFORE committing to an exchange. Some transactions are Diamonds only; some are part cash/part points. (Usually Diamonds for labour and cash for materials) For example: Diamonds only for a weeding job, but to have a lawn mowed, there would be a $$ cost for mower fuel. Remember that the Golden Rule is NEGOTIATE BEFORE TRADING.
WHAT IF I AM UNABLE TO PROVIDE THE REQUESTED SERVICE?
There is no obligation to provide a service at an inconvenient time or that is out of your range of expertise. If unable to help at the requested time, then offer a couple of alternative options to suit both of you, or state clearly that you cannot meet the request.
CAN I CHECK QUALIFICATIONS OF MEMBERS OFFERING PROFESSIONAL SERVICES?
Yes! Although the committee attempts to vet members offering professional services, it is each member’s responsibility to check as to whether these qualifications are genuine and/or what is appropriate for the occasion.
ARE THERE ANY TAX IMPLICATIONS?
There may be for some members, particularly those operating a business. We suggest you contact your accountant.
CONFIDENTIALITY
We respect your right to confidentiality, so all personal details such as name, address and phone number are only distributed to other LETS members.
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If you are interested in joining our LETS Group in the Diamond Valley / Northern Suburbs area please CONTACT US
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