1. The Fremantle LETS system is a non-profit agency, whose rights and authority are vested in a democratically elected Trustee committee member who acts as an agent for the members, who are the principals.
  2. The Fremantle LETS system provides a service which allows its members to exchange information, to support trading, and maintains such accounts of the trading as members request.
  3. Members shall be willing to trade in seashells and should have at least one current offer in the system at all times.
  4. Each member is responsible for keeping transactions current, no challenge can be made after 1 month.
  5. The Trustees may transfer seashells from one member’s account to that of another member only on the authority of the member earning the seashells.
  6. The Trustees may decline to record a notice or transaction considered to be inappropriate.
  7. Accountability for taxes incurred by members is the obligation of liability of those involved in the exchange. The Fremantle LETS system has no obligation or liability to report to taxation authorities, or to collect taxes on their behalf.
  8. No warranty or undertaking as to value, condition or quality of items exchanged is expressed or implied by virtue of the introduction of new members to each other.
  9. While all information on member’s accounts excepting publically available text of notices, images, balance and turnover is considered to be personal and confidential, the Fremantle LETS system cannot guarantee confidentiality, or necessarily be held liable for any breach of it.
  10. The Trustees are authorised to levy charges on members' accounts in seashells at rates assessed by the Trustees in liaison with, and by general agreement with, the Trustee Committee, which rates and charges will be discussed and agreed upon from time to time.
  11. The Trustees may act on behalf of the community of members in seeking satisfaction from a member whose account is delinquent.
  12. Members join with a zero seashell balance. They are therefore expected to leave with a zero seashell balance.
  13. Members may not record a transaction in excess of 500 seashells.
  14. Members must keep the balance of their accounts to within +/- 1000 seashells.