What is a commitment?
A commitment is simply a negative account balance. A commitment represents a willingness to consider supplying goods or services to one or more account-holders at some future date. When you have a balance in commitment and someone pays into your account, your commitment is reduced, or turned into credit. In a healthy system, account balances bob up and down, sometimes having a balance in credit and sometimes in commitment. People in commitment can be considered to have issued LETSystem money to those in credit. There is no central body issuing credit, there is no need. This means that there is never a shortage, and never a surplus, of LETSystem money.
