| The current recommended rate for a member providing a
service is 8 Covs per hour (1 Cov being equivalent to £1). It may
be possible to agree payment of a higher rate per
hour or a combination of Covs and sterling. Example 1: Member
'A' needs some help with the garden and looks in the LETS Directory.
Member 'B' has advertised that he can offer gardening. Member 'A'
contacts Member 'B', they agree a price of 8 Covs per hour. The job
takes 3 hours and Member 'A' pays the Covs to Member 'B' using the
Coventry LETS online
accounting system.
Example 2: Member 'B' who does not have Internet access needs
the services of a graphic designer and looks in the LETS Directory.
Member 'C' has advertised that she offers this service. Member 'B'
contacts Member 'C', they agree a price of 8 Covs plus £8 per
hour. The job takes 2 hours and Member 'B' gives £16 and writes a
LETS cheque for 16 Covs to Member 'C'. Member 'C' sends the cheque to
the Coventry LETS treasurer to be cleared through the accounts.
Example 3: Member 'C' wants to purchase some organic food and
looks in the LETS Directory. Member 'A' has advertised that she bakes
with organic ingredients and makes home-made jam. Member 'C' contacts
Member 'A', they agree a price of 15 Covs for a selection of produce.
Member 'A' provides the goods and Member 'C' pays her 15 Covs directly
using the Coventry LETS
online accounting system. |