Exchange Types
CES caters for two different types of exchanges. Select the type that will be most appropriate for the group you are proposing to set up
| ⮕ | Community Exchanges | Time Banks |
| Other names | Community exchanges are sometimes called mutual credit exchanges, LETS, clearing circles | Time banks are sometimes called "service exchanges" |
| Unit of value/account (i.e. how prices are set) |
Usually based on the national currency at a more or less 1:1 ratio. Sometimes other references are used to determine prices, e.g. gold, energy, loaf of bread, egg, "basket of goods" | Usually based on one hour but may be any other time unit such as 1 minute, 10 minutes, 15 minutes etc. Alternatively one hour (or other time unit) can be given a number of units, such as 10 units/hour |
| Types of offerings | Everything, goods and services | Mainly services |
| Global trading between different exchange types | Yes | Yes, time banks can trade with other time banks as well as with community exchanges |
| Zero-sum accounting | Yes | Yes |
| Hide trading records | No | Yes |
| 'Market' influence | Prices can vary for the same goods and services. 'Demand' and 'supply' can have an influence on prices | Timebanks tend to encourage a fixed rate for all services - "one hour of my service is equal to one hour of your service" |
| Taxable | Some governments treat mutual credit transactions as a money substitute and therefore claim that they are taxable | Usually not taxable |
| More information | http://en.wikipedia.org/wiki/Mutual_credit | http://en.wikipedia.org/wiki/Time_bank |