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Contracts of sale of commodities may provide for declaration by buyer or seller of loading or discharge ports (out of a geographical range). An election of this type is a nomination. In FOB vessel contracts, buyer must nominate, i.e., designate by name, the vessel(s) to perform, or lift the grain. Vessel nominations are contractually required to be made with pre-advice, q.v. Voyage charter parties sometimes do not specify a vessel name, but state instead that vessel is to be nominated; subsequent designation of the vessel name by vessel owners to charterers is called a nomination.

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13y ago
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Q: What is a Vessel Nomination?
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