Bega Valley LETS Members’ Agreement

1. The Bega Valley LETS is a non-profit organisation run by its members. It provides a service which allows members to exchange information to support trading and maintain such accounts of trading as required by the membership.
2. Members shall be willing to consider trading in Sapphires.
3. The Committee or individual members authorised to do so will debit the buyer’s account and credit the seller’s account only on the authority of the buyer.
4. The Committee may decline to record an acknowledgment considered inappropriate, or rescind membership where evidence of malpractice exists.
5. The value of a Sapphire shall be decided on by the parties to any individual transaction.
6. A member may know the balance and turnover of another member.
7. Accountability for taxes incurred by members is the obligation of those involved in an exchange Bega Valley LETS accepts no responsibility to report to the taxation authorities or to collect taxes on their behalf.
8. No warranty or undertaking as to the value, condition or quality of the items/services exchanged is expressed or implied by virtue of the introduction of members to each other.
9. While all information on members’ accounts, with the exception of balance and turnover, is considered confidential, Bega Valley LETS cannot guarantee that confidentiality, and not necessarily be held liable for any breach thereof.
10. The Committee is authorised to levy charges on members’ accounts in Sapphires at rates decided upon by the membership.
11. The Committee may act on behalf of the members in seeking satisfaction from a member whose account causes concern. The office-bearers reserve the right to limit commitment and surplus.
12. The sole liability of the Committee to any member for any damage suffered by such member shall be limited to damage caused by wilful default by the Committee.
13. Members who perform service or provide equipment within the Bega Valley LETS do so at their own risk.


Bega Valley's own Local Exchange Trading System to purchase goods & services with complementary currency

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