Terms and Conditions | August 1st 2012


Bath L.E.T.S. Members' Agreement

Bath L.E.T.S. has an agreed structure which is founded on the basis of members’ commitment to each other and to the wider community. The ability to extend trust or credit is based on the commitments undertaken in adopting the members’ Agreement of Bath L.E.T.S. Members agree to be bound by the conditions of this agreement.

1. Bath L.E.T.S. is a non-profit membership society whose rights and authority are vested in the members who delegate that authority to a Core Group of members, who act on the members’ behalf.

2. Bath L.E.T.S. provides an information service through which members can exchange goods and services, and maintains a central account of that exchange for the benefit of members.

3. Members agree to Bath L.E.T.S.   holding details on computer and distributing to other members those details relevant to the purpose of exchange. The details are strictly confidential to within the membership.

4. Members may give or receive from each other credit in the accepted Bath L.E.T.S. units, called Olivers. These are not recorded on the Bath L.E.T.S. central accounting system anymore as paper Olivers have been printed and are available at the ‘bank’ at Green Stationery, Walcot St., Bath

5. No money is deposited or issued. Members must engage in any transaction entirely in Olivers, and cash is only used for expenses.  Olivers are not recorded on L.E.T.S. If any business wants to become a member and trade in Olivers and cash, they will join the sister organization, Bath Oliver Currency C.I.C..

6. All accounts start at zero. Members with credit can also exchange this for paper money.

7. No Bath L.E.T.S member is obliged to accept any particular invitation to trade, or to engage in any transaction whatsoever with other members.

8. The Core Group is authorized to charge joining or renewal fees in Olivers and/or Sterling on a cost-of-service basis as the situation requires.  Work carried out for Bath L.E.T.S. can be paid in Olivers by the agreement of the Core Group.

9. The Core Group may decline to record a newsletter or directory entry considered inappropriate for legal or other reasons.

10. No warranty or undertaking as to the value, condition or quality of services or items exchanged is expressed or implied by virtue of the introduction of members to each other. Bath L.E.T.S.  publishes a list of the resources and services made available by members but cannot be held responsible for the actual good and services on offer.

11. Members are individually responsible for their own personal tax liabilities and returns Bath L.E.T.S.  has no obligations or liability to report to the tax authorities or to collect taxes on their behalf.

12. Members are encouraged to attend any Bath L.E.T.S. Core Group meeting, and have a right of appeal to a full meeting of members against any Core Group decision. Members have the right and are encouraged to participate in decision making. An open meeting for all members will be held at least once annually.

13. The Core Group may act on behalf of members in seeking explanation or satisfaction from a person whose activity is considered to be contrary to the interests of the membership. They may also suspend membership and, in the last resort, may remove members from the Bath L.E.T.S. system on the same grounds. The Core Group also reserves the right to deny membership to an applicant in exceptional circumstances at their discretion.

14. There has been a  fee to join the system (it was £10/£5 concessions) plus a deduction made in Olivers (currently  10 Olivers per month) to cover administration of the scheme. There  will be no deduction of Olivers as there are no electronic accounts;  the joining fee may be in force in the future.

15. Membership of Bath L.E.T.S. implies acceptance of the conditions of this agreement and the privacy policy of Bath L.E.T.S.