It is a type of barter system that was first developed in Courtenay B.C. in 1983 and has since spread around the world. The Peterborough LETS Exchange is one of hundreds of LETS systems operating in Canada, the U.S., the U.K., Australia and New Zealand. LETS works on the principle that all of us have skills to offer, but at times the cash economy doesn't give us enough opportunity to use them. You can then use this credit to buy whatever you want from any member of the system.
Participants are free to trade their skills and meet their needs even when cash is in short supply.
The Peterborough LETS gratefully acknowledges the financial support of The Ontario Trillium Foundation, an agency of the Minisitry of Citizenshp, Culture and Recreation , and of Human Resources Development Canada's Summer Career Placement Program 2001.