- CamLETS is a non-profit society, administered by the Core Group on behalf of its members under the terms of the CamLETS Constitution.
- CamLETS provides an information service through which members can exchange goods and services. A central account of all exchanges is maintained for the benefit of its members; this is separate from any money used to administer the scheme.
- Members agree to CamLETS holding their details on a computer (as per the Data Protection Act) and to the distribution to other members of details relevant to trading.
- Members may give or receive credit from each other in the CamLETS unit of account, called 'cams'. Members are encouraged to adhere to a normal charge for services of 10 cams per hour. All services listed in the Directory are assumed to be available at 10 cams per hour unless otherwise stated. Sterling expenses may be recovered but no sterling- only services may be listed.
- Credit notes are valid for 12 months from the date of issue.
- The Core Group may charge joining and renewal fees in cams and/or sterling and levy service charges for transactions.
- Only the account-holder can authorise the transfer of cams from their account, except for (i) service and (ii) subscription renewal charges, which may be deducted automatically.
- Apart from membership fees, no money is deposited or issued, transactions may be entirely or partly in cams; only the cams component of any transaction is recorded by CamLETS.
- Any member is entitled to know the balance and turnover or all other accounts, which the Core Group will publish. No interest is charged or paid on balances.
- All CamLETS accounts start at zero. There is no need to be in credit before making a particular transaction. However, to maintain fair trading, members agree to respect the following conditions:
- The publication of all balances and turnovers is designed to encourage, among other things, exchanges that assists members with large balances in maintaining active and sustainable trading.
- The Core Group will give a Flag to accounts with a large balance (either positive or negative) to denote the urgency of counter-balancing trade.
- Flag 1: Accounts with balances that exceed 300 cams (plus or minus) will automatically be given extra prominence in the published trading pages.
- Flag 2: The trading pattern of accounts with balances that exceed 400 cams (plus or minus) will be examined by the Chair to see if any support is needed to encourage a more sustainable pattern of trading.
- Flag 3: In the long-term Interests of CamLETS as a whole, the Core Group reserves the right to take appropriate action to protect CamLETS should any member's approach to trading be agreed to be non-sustainable.
- During their first 12 months of trading, members agree not to allow their balance to fall below -100 cams.
- Temporary circumstances that affect trading patterns will be taken sympathetically into consideration.
- Any particular transaction is always optional. Prior to leaving CamLETS, all members with minus balances must, however, make every effort to bring their account back to zero. Members agree to approach the Chair to discuss how to accomplish this, if guidance is needed. Creative solutions are very welcome.
- The Core Group may refuse for legal or other reasons a directory entry considered to be inappropriate.
- CamLETS is not responsible for the value, condition or quality of any service or item exchanged. The Core Group has the right to delete particular offers from a member's listing should repeated or serious complaints be received and substantiated. Members have the right and responsibility to call to the attention of the Core Group any activity considered inappropriate within the system.
- Members are individually responsible for their own tax liabilities and returns. CamLETS has no obligation or liability to report to the taxation authorities or to collect taxes.
- All members have the right to join the Core Group and to participate in decision making. They have the right to seek resolution of disputes through the Chair of the Core Group or Extraordinary General Meetings.
- The Core Group may seek explanation or satisfaction from a member whose activity is considered contrary to the interests of CamLETS, and may suspend or cancel an individual's membership.
- The Core Group reserves the right to refuse an application for membership
- Members agree to be bound by the conditions of this agreement.
- When members leave the system, any Cams balance remaining will be applied to Account No. 1.
Page last updated 22/05/18 by CT