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.
Frequently asked
- What does Dip-Test mean in oil and commodity trading?
- A physical measurement of product in a tank or vessel; a genuine 'dip and pay' step, and a faked one in scam procedures.
- How do I check a counterparty that uses Dip-Test in a deal?
- The term itself is not enough to clear or condemn a deal. What matters is the counterparty behind the pitch. Screen that name for free against 8 sanctions lists plus PEP and OilFlow's first-party cluster corpus in seconds, or order the full 7-step dossier for $25, and confirm identity documents and banking details independently before you transact.
See also