Agribility - Nominations and Substitutions

This module will primarily deal with the requirements associated with nominating a vessel under a Gafta FOB contract and the limitations relating to substitutions. This module will provide explanations of the terms used.

By the end of this module, the learner should be able to:

• Explain the obligations of the buyer in a FOB contract regarding nominating a vessel.
• Identify the circumstances in which a FOB seller could reject the nomination.
• Discuss the right of substitution and the requirements associated with substituting a vessel.
• Explain the requirements under different Gafta contracts and understand the reasoning behind the differences.