Members are required to return their account to zero if they wish to cease trading or leave the system.
If you are in debit, you are obliged to do what you can to help others when asked. If you are in credit, you are obliged to exchange your LETS for goods and services offered by other members.
Any member is entitled to know the balance and turnover of another member’s account.
No interest is charged or paid on balances.
The Core Group is authorised to charge joining or renewal fees in LETS and/or pounds sterling on a cost-of-service basis as the situation requires, and to levy service charges on member’s accounts at rates assessed in consultation with the members at each years Annual General Meeting.
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.
New Moray LETS publishes a Directory of the resources and services made available by members but cannot be held responsible for the actual goods and services on offer.
Members are individually responsible for their own personal tax liabilities and returns.
Membership is open to any individual or corporate body interested in participating in or supporting the aims of New Moray LETS, regardless of gender, race, nationality, age, disability, sexuality, political party or religious opinion.
No money is deposited or issued. Members may carry out any transaction entirely in LETS or on a part cash basis, but only LETS are recorded on the LETS System.