Cambridge (UK) has had a thriving LETS since 1993. CamLETS enables members to exchange skills by means of a sophisticated barter system. You get things done for yourself by doing things for other people. We welcome members from all over the Cambridgeshire area and all kinds of skills are both valued and needed. Trading events that are open to prospective members are normally held the first Sunday of each month. Occasionally there are larger trading events that are open to the public. Click on the links below for further information.
LETS 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 Complementary Currency. We trade using a currency called CAMS.
Why have a Local, Complementary Currency?
- Enhance Your Prosperity
- Build a Sustainable Community
- Utilise Your Talents
- Nurture the Unique Quality of Your Neighbourhood
- Have Fun
Frequently Asked Questions
Got a question? Get in touch, we'll try to answer it. If it's a good one, we'll add it to this list.
- What skills can I offer?
- Anything you like doing, or are good at. If you have difficulty thinking of ideas, have a look at what other members offer.
- I don't have much time - can I still join?
- You can use CamLETS as often or as little as you wish.
- How do I use 'cams'?
- If you do something for another member, the rate is usually 10 cams per hour. They will either fill out a row on a spreadsheet at a trade event, or record it as a transaction directly on the website. The amount will then be credited to your account.
- Are transactions taxable?
- Almost all LETs trading is of an 'occasional social favour' type and not taxable. Only if you trade in cams as part of your regular business would you be liable to tax.
- Suppose I get into debt?
- Since no 'money' is printed and everyone starts at zero, the whole system always has the same amount in credit as in debit. If you go too far into debt you will be asked to earn some cams; similarly, if you start hoarding too many cams you may be asked to start spending!
- Can't the system be abused?
- Not really, because it's a social network and there are safeguards (for example all accounts are published and all members sign a membership agreement on joining). Also any temporary bad debt does not affect any individual member; no member loses credit for work done.
- Can I buy and sell things?
- Yes, and you can advertise in your listings, which are broadcast out to members at regular intervals, or at one of our social gatherings. It's a good way of making friends.
Page last updated 13/05/18 by CT