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New Moray LETS
Local Exchange Trading System (LETS)

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Administrator Information
Name Stewart Noble
E-mail Address
Position / Job Title Founder
First Language English
Organization New Moray LETS
Organization Type Community-Based Organization (Unregistered)
URL Address
Currency System Information
Status Operating
Year the System was Started 1997
Community Moray
City / Urban Area Forres
Country United Kingdom
Medium of Exchange Accounts
Unit of Value Units of National Currency Equivalent
Valuation Non-Contract Agreement to Accept Currency
Cost-Recovery Mechanism
  1. Account Opening / Joining Fee
  2. Quarterly Fee (3 months)
Purpose for Establishing System All reasons
Size of Membership 400
Population of Area Served by System 10,000
Estimated Yearly Operating Budget Internal Currency: 5,000
National Currency: 300 GBP (605 USD)
Yearly Volume of Trade Internal Currency: 150,000
Main Goods and Services Traded
  1. Food (28520L over 8 years)
  2. Therapies (23877over 8 years)
  3. Gardening (22051 over 8 years)
Additional Information

The largest LETS in the UK - 3 editions. System designed on the 'LETSAM' model. Members must zero account before it can be closed. No bad debts in 8 year history. Expanding exchange limits based on turnover. (10% of turnover). Coperative pay rates to core group and workers on the system. A member of The Community Exchange Network for inter-trading globally.

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