Quantity Surveys

Quantity surveys plays a very crucial role especially in business because all payments are based on these surveys reports. Indian is importing a lot of crude oil from the Middle East to meet its energy requirement. In the absence of any pipe line from any of our neighbour countries as yet, the entire transportation of crude oil is done through very large crude carrier (VLCC) tanker ships. Before the ship starts to load crude a quantity surveys certifies that the tank is empty. After loading the quantity surveys again certifies the quantity of crude loaded. Again at the discharge port the quantity surveys certifies the quantity of crude received and again at the end of the discharge cycle. Bills are cleared based on the quantity of crude received.

Quantity surveys being an independent body dully accredited with the Government can be trusted. When two individuals are trading we cannot take one party’s view as correct as the other party will insist that its figures are realistic, hence the need for a third party whose decision will be binding on both the parties.