How  L.E.T.S.  & the OLIVER work

 

L.E.T.S. stands for Local Exchange Trading System. It is a way a community can trade skills, services or goods without needing or using real money. It's a bit like a barter system, but you don't have to do a direct swap - instead you use a local alternative currency.  For a comprehensive history and explanations look at letslinkuk.net .It has become clear that L.E.T.S. would benefit hugely (in terms of costs and administration) by being online.

L.E.T.S.. schemes enable local people, organisations and businesses to exchange services goods and skills using a local currency in place of £ Sterling.

Bath L.E.T.S. covers the city of Bath and surrounds. The scheme is open to all residents  and organisations.

Bath L.E.T.S. is the name used by the Bath chapter of the ‘LETSystem’. More information about this can be found here

The currency  we use is called the ‘Oliver ’.  These are used in a more flexible way than barter, and wealth created is kept within our area.

A directory online lists members skills, services and products offered or wanted.

You can earn Olivers with one member and spend with another.

Oliver transfers are not recorded via this website.

Members aim to give and take in equal measure over time.

Members with online credits are able to exchange their positive balance for Oliver  notes –see details as to how these may be spent here

L.E.T.S.  has many benefits both economic and social , amongst these it helps build more resilient and convivial communities.