Local exchange trading systems LETS are similar to time banks but differ in the way they are rewarded. Instead of simply earning credit hours for their contribution, LETS members earn units of a named currency, such as 'bobbins' or 'nuts'. Trading are not necessarily exchange on the basis of one unit for one hour's work, members with valued skills or experience may claim a higher rate of reward for their work. Moreover, the systems units trading be exchanged for material goods such as local, as well as for other members labour. LETSystems, however, can reveal the gross difference between various types of work exchange skills. People who are short in trade skills may accrue debts;requiring a management system so that these situations can be easily identified, and in turn, offering trade skills training. LETS also require careful management of the administration system, although packages now exist for micro-computers. The Permaculture Association local a company and registered charity and SC Skip systems main content. Login Contact Join Donate. Home Practical Solutions Finance and economics Alternative trading systems Local exchange trading systems Local exchange trading systems.
They must pass a national licensing exam and, most often, a state licensing exam where they practice.
Punch, or the London Charivari, Volume 152, May 30, 1917 (English) (as Editor).