How a SC LETS trading transaction works 1. A buyer and seller agree a price for the goods or services and on which LETSystem to trade - where they have a choice. Notice board of offers and requests can be found on the web site at www.communityway.org/santacruz/ 2. Transactions will generally be in part cash and part local money depending on the seller's need to cover costs or taxes. 3. The buyer pays in local money by authorising the payment of money out their account. This may be achieved in several ways depending on the LETSystem. ONLY the buyer may authorise payment. The preferred method to record transactions is by voice mail or email. In all cases the essential information is: ? buyer's name & ID, ? seller's name & ID, ? amount of local money, and ? the name of the LETSystem being used. Voice mail example - to 429-2232: "Hi, this is Sally Smith, id SS, please transfer to Joe Friday, id JF, $100 on the Santa Cruz system" Email example - to santacruz@communityway.org: Subject line: cc transaction Text: Sally Smith, id SS, please transfer to Joe Friday, id JF, $100 on the Santa Cruz system Other payment methods, where and when available or appropriate, include: ? signing a line in a shop accounting sheet that is then sent to the Registry office for entry, ? filling out a "cc" check that is sent into the Registry office. 4. The Recording Co-ordinators log the transaction details onto the computer that then adjusts the accounts. 5. Account statements are mailed to all accounts each month.