The Commodity Contracts course is the second in the GPD series and covers contracts in the commodities sector in-depth. Students will study both general industry and Gafta specific contracts, including their formation, terms and the process associated with commodity contracts.
The course 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 this course.
Topics include:
- Contract formation
- Types of contracts
- Key terms
- Letters of credit
- Supervision, sampling & analysis
- Force Majeure and other exceptional circumstances
- Default and calculating damages
This course is aimed at trade professionals who:
- Work with and need to understand, trading contracts and their firm’s obligations under them
- Have attended Gafta’s Trade Foundation Course and want to take their industry training to the next level
- 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.
Certificates
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 | 1700 - 1830 Includes: Networking lunch and drinks |
| Day 2 | 0900 – 1700 Includes: Networking lunch |