A Brief Guide to the Bright Exchange
How it Works
What makes a LETS system work is members’ willingness to trade. Only offer things you really want to share with others, and please say yes to telephone enquiries whenever possible. Let people know what else you offer and be open to suggestions - use your imagination and creativity ! Trading is the responsibility of each member. We do not vet anyone and it is up to you to check people out yourself, i.e. before trading with a new person we recommend that you ask them for names of other members they have traded with.
Rates of Pay
The standard rate for when you want to trade on an equal basis was set at 6 Brights some time ago, but for some trades it may be appropriate to charge more (or less), and the Offers & Wants directory entry enables you to quote what you are charging per item or per hour. It is assumed that any genuine sterling costs accrued whilst trading, (materials, petrol etc.) will be passed on to the receiving member. These should be agreed before the trade takes place, as should the amount of Brights - and again, the listing on the directory gives you the opportunity to quote this.
Finding Other Members
Once you've joined, you can reach member profiles through the Members List by clicking on their four-digit ID. You an contact members by phone, or if you click on the email address, a message box opens up. The Member Directory has columns including neighbourhood and postcode, and you can search and sort it to find members in a particular locality. We have also created a "grid" with quick links HERE.
Your profile shows your contact details and Offers & Wants. You can view transactions in much the same way as a sterling bank account, and you can use the system to make payment of Brights to other members (or invoice them). New members can start trading right away, and they will probably incur a debit initially, which is perfectly acceptable provided that it doesn’t get out of hand. If any member is worried about being in debt, Brights can be earned by offering to help with admin (long or short term).
Updating your Profile in the System
Your initial profile will be set up from the information in your application form, after which you will have access to keep it updated, including Offers & Wants, via My Profile (in the sidebar). When you join, we aim to give you a one-to-one session to get you started in the online system. If you do not have a computer, access can be arranged with the help of another member acting as your "buddy".
Use your LETS scheme to the full and organise your own social events, exhibitions, classes, concerts, anything you like. You can advertise your event in the Directory of Offers and Wants - key events may also be put on the News page and/or included in the newsletter. Maybe you could accept Brights at your sterling paying events, or half and half.
Management of the Scheme
The Core Group oversee the administration of the Bright Exchange, make suggestions regarding direction and development, and deal with any problems that may arise. They are paid only in Brights, which come from the Bright account, and are transferred automatically from everyone’s account at a rate of 12 Brights per year. If you would like to become part of the Core Group, or support their work, posts become available from time to time, and vacancies for core group posts, or occasional assistance, are advertised in the Newsletter, as are dates of Core Group meetings, to which members are welcome.
Subscriptions & Renewals
The joining fee is £10.00 or £6.00 unwaged . You will be reminded annually when your subscription is due, and you will have the opportunity to make a donation in exchange for Brights, but more importantly encouraged to review your Offers and Wants to ensure that you are making best possible use of the scheme. If you need a break, you can send yourself "on holiday" via My Profile.
Information held on Members
In order to confirm to new GDPR Regulations we have written the following Privacy Notice
About • Learn More • Constitution • Members Agreement • Brief Guide • Application Form