Trade Foundation Course (TFC)

TFC  Gafta’s Trade Foundation Course is the ideal training option for commodity trade professionals who are looking for a thorough introduction into the world of commodity contracts and trading principles. 

 The course will cover the essentials elements of the trade, from how a contract is formed, through to identifying and mitigating common risks, issues around the shipping of goods and what happens if a dispute arises.
The TFC is part of the Gafta Professional Development (GPD) programme, which enables trade professionals to advance their career in the industry by taking the Trade Diploma, or for those going on to become Gafta arbitrators via the Arbitrator Diploma. It is recommended (but not compulsory) that the Trade Foundation Course is attended before other training courses.

Topics include:This course is aimed at trade professionals who:
  • Basic principles of contracting
  • Introduction to Gafta contracts and contract terms
  • Supervision and sampling
  • Shipping documents
  • Laytime and demurrage
  • Payment terms
  • Exceptional circumstances & Force Majeure
  • Dispute resolution
  • Wish to get a basic overview of commodity trading essentials
  • Are in the first two years of their careers
  • Want to develop their career within the industry
  • Have been in the trade for some years but want to expand their knowledge of areas outside their workstream

Course Exams

  • At the end of each GPD course is an exam, which students have up to 1 hour to complete.
  • The exam is a mixture of multiple choice and free-text questions. There are no essays required within the exam. It is open book, so students can use all their notes and course materials to help them complete it.
  • Should a student fail, they will get 1 chance to retake, which can be done online. Retakes must be completed within 5 days of the link being issued. Failure to pass the retake means that the student has failed the course and is advised to re-book onto the next date.


Candidates who pass the exam will gain a certificate for the course. There are no certificates of participation/attendance for GPD courses, only for students who pass the exam.

Sample agenda

Day 1   0900 – 1700 | 1830 - 2100
Includes: Networking lunch and dinner
Day 2 0900 – 1700
Includes: Networking lunch
Day 3 0900 – 1700 | 1830 - 2100
Includes: Networking lunch and dinner
Day 4 0900 – 1300
Includes: Networking lunch