|What are LETS?
Local Exchange Trading Schemes are a way for people to exchange their time
and skills with each other using a local currency (Frome Exchange uses "Fromes").
It encourages mutual help in the community and the possibility of creating
a, "alternative economy" based on need.
Members identify skills they wish to offer and
their current requirements for goods and services, which are listed and
circulated in a directory or via a LETS web site.
Members contact each other directly, arrange a trade
amongst themselves and agree a price in LETS credits known as fromes
in our system which are transferred online or by writing out a LETS cheque
paid into and debited from members personal accounts by the LETS
Members may view or receive statements and newsletters, and social
events take place, often hosted by individual members, where people can
get to know each other and discover new opportunities for trading.
The system is managed by an elected committee.
Frome LETS is non-sterling, interest-free and debt free
a local skill-sharing pool an enriching, supportive network
a cash-saving resource bank for charities and organisations
does it work?