A commodities or securities market in which goods are sold under a purchase order or contract at the price prevailing at the time of the sale and delivered immediately. The purchaser is not obligated to acquire any additional goods or services. Spot market sales are resisted in project finance transactions because there is no consistent revenue flow that can be relied on to repay the debt incurred to construct the project. An offtake agreement is the preferred method used to sell a project's output. For a discussion of the importance of consistent cash flow in project finance transactions, see Practice Notes, Project Finance: Overview: Offtake Agreements and Identifying and Managing Project Finance Risks: Offtake Risk.