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.

Fees:

 

Member Fee

Non-Member Fee

Individual modules

£50.00

£70.00

All payments must be made by credit card - unpaid bookings will NOT be processed

Online

Member Rate: £50

Non-Member Rate: £70