Inspectiondip-test
Dip-Test
A physical measurement of product in a tank or vessel; a genuine 'dip and pay' step, and a faked one in scam procedures.
A dip-test is a physical gauge of the volume (and sometimes quality) of product in a shore tank or a vessel's cargo tanks, usually witnessed by an independent inspector. A buyer-witnessed dip is a real verification step in some procedures ("dip and pay"). In the scam circuit a "dip-test" is promised on paper but the buyer is never actually given terminal or vessel access, or is asked to pay a "dip-test fee" upfront. A dip you cannot witness or independently verify is worthless.
Related: tank storage receipt, POP, Tank-to-Vessel.
See also