In a Nutshell™ Clause Spot Rate:
Template:Nutshell GMSLA Spot Rate
2010 GMSLA full text of Clause Spot Rate:
Notwithstanding its capitalisation in Paragraph 11.2, “Spot Rate” is not defined in the 2010 GMSLA. So we can only imagine what that capitalised term might mean—but (seeing as it is also used, uncapitalised, in Paragraph 2.4) a betting chap might think a fairly good translation would be “spot rate”.