Into Tank definition
Into Tank means, in relation to a transfer, sale or purchase of the Goods whereby title to the Goods are delivered by transfer from one storage tank into another tank in the same storage facility, as may be provided for in the Contract.
Into Tank means the delivery of Product by Seller to Buyer in bulk into the storage tank designated by Buyer. “In Situ” (Stock Transfer) shall mean the sale and purchase of Product in bulk as specified in the Special Provisions within the storage tank designated by Buyer and agreed to by Seller and without any obligation of physical delivery by Seller to Buyer.
Into Tank means delivery by Vessel or pipeline into the Authority’s storage tank.
Examples of Into Tank in a sentence
For Into Tank deliveries, the quantity of Product delivered under this Agreement shall be determined by using proven meters at Buyer’s tank inlet manifold, if available; otherwise by manual measurement of Buyer’s tanks.
More Definitions of Into Tank
Into Tank means the delivery basis whereby Seller delivers the Crude Oil to the Buyer’s receiving storage tank and title passes to the Buyer in accordance with the Delivery Term.
Into Tank means the delivery of Product by the Seller to the Buyer in bulk into the storage tank designated by the Buyer.
Into Tank and “Ex Tank” means, in relation to a transfer, sale or purchase of Oil whereby the Oil is delivered by transfer from one storage tank into another tank in the same storage facility, as provided for in the Specific Agreement;