Framlingham LETS

The Scheme and its aims

Framlingham LETS is a non-profit making community enterprise whose members can be individuals, businesses, voluntary-sector groups or others.

Its purpose is to enable members to exchange goods and services using a local currency, the Framling, which has a notional equivalent of one pound sterling.

The scheme is not owned by any individual or group. It exists solely because its members agree to the conditions set out here.

Who runs it?

Framlingham LETS is run by a co-ordinator, as part of Greener Fram. Any member may contribute, and will usually be paid for their work in Framlings.

The co-ordinator is accountable to the membership, and information on what she/he is doing is available to any interested member. The co-ordinator is responsible for ensuring that the website is kept up to date and accessible to all members. So that this can be done efficiently, members must agree to relevant details being held on computer.

How your account is managed

Members are responsible for making payments to those who provide them with goods or services. This means that you should make the transfer online as soon as possible after you have traded (or contact the co-ordinator to do this on your behalf).

So that members can regulate their trading, the balance of every member will be available for all members to view.

Your responsibilities

The co-ordinator and Greener Fram cannot guarantee the value, condition or quality of goods or services exchanged through Framlingham LETS. It is the responsibility of the members involved in any particular transaction to ensure that it is mutually satisfactory.

Each member is responsible for their own tax and VAT returns, where applicable.

Protecting your interests

The co-ordinator and Greener Fram will act as necessary to protect the interests of Framlingham LETS. Action may include seeking explanation of a member's actions, refusing to record transactions or directory entries for legal or other reasons, suspending accounts or refusing or withdrawing membership.

If disputes arise between members, the co-ordinator and Greener Fram may be asked to mediate.

Leaving the system

Members can leave Framlingham LETS at any time. Members leaving the system are asked, where possible, to bring their balance to zero.