Ok, since there is no official sticky on the subject, I'll give the newbies a frag swap "how to" and over all feel.
First the fragging.
Fragging should be done in advance so as the animals have a chance to heal up a bit before being sent off. Many corals slime up as a "protection" unfortunately they do this in a large body of water so that the slime eventually goes away and the coral goes on it's merry way, if you stick that into a small body of water (container to bring the frag) you'll have it being choked out by it's own slime. Also this saves time by trying to frag up a bunch of stuff the morning of (right Norman?
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Mounting? Corals do not have to be mounted at all, while some do have preferences one way or another, it's not an absolute. Personally I like to mount stony corals onto lose pieces of small rock rubble I have lying around, but that's just me. Others might not like that and will snap the mounted frag off for dipping/pest purposes.
Packing frags? You will pack up frags in separate containers, not all in one container. Now this is done the morning of the event, simply because you want to minimize the time the frag stays in a small vessel of water. You want to make sure there is ample water in the container, more is better.
special note You may want to have a bucket of fresh made salt-water ready to replace the water you use when packing corals, especially if it's a good amount of corals. IMO the best bang for your buck containers out there are those clear plastic deli containers you can buy at smart & final or other such stores, while Target/Walmart do sell gladware or other brands, Smart & Final's are much cheaper and are just as good, there are a variety of sizes you can choose from bigger is better but you don't always need a huge container, 8 to 16 ounces should be your target size. You can also use plastic bags, similar to those you'd get at a fish store, however they should be a thick mil plastic, and double bagging is ALWAYS useful. Under no circumstances should you ever use ziplock bags, they will leak, if you double bag the inside bag will leak, which will eventually make the outside bag leak, basically don't do it. You will lose your containers, they do not come back to you, however the corals you pick will most likely be in containers (those deli containers caught on like wild fire, and are quite popular) so simple wash them out after your corals you acquired and store them for the next swap. Spend $10-$20 on containers once, and you'll probably not have to do it again.
The day of the event
Show up, check in early. Go to the main room, your frags will be put on appropriate tables by the helpers, and usually you can look around and see what other people have brought, within reason. (Crowd control issues, so maybe only a few at a time looking, etc).
Everything else, the announcer will help you out with, and workers there will be wearing plain blue ball caps, so if you need help ask one of them and hopefully they can answer your questions.
Oh and as mentioned, you might want to bring a little styrofoam cooler or ice chest to put your frags in, especially if you have a long drive ahead of you back home, or are stopping off someplace.