Vessel Experience Factor definition

Vessel Experience Factor means the factor calculated as per API MPMS
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Vessel Experience Factor or "VEF" means the factor that aims to correct the measurement of the quantity on board due to uncertainties in its tonnage table. It is a compilation of the vessel's TCV measurement history adjusted to the quantity on board before loading (On Board Quantity - OBQ) compared to TCV measurements, measured onshore or measured using calibrated flowmeters. The VEF must be calculated according to the API MPMS 17.9 standard.
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Vessel Experience Factor or "VEF" means a factor based on the compilation of the history of the total calculated volume vessel measurements, adjusted for on-board quantity or remaining on board, compared with the total calculated volume shore measurements.
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Examples of Vessel Experience Factor in a sentence

  • If the Surveyor has reason to believe that the Bulk carrier is not calibrated in accordance with the ASTM standards and procedures, applied with a valid V.E.F. (Vessel Experience Factor) shall be used to compute the delivered quantity of the current batch.

  • Should SGS or Independent Inspector report that the above is the case, than ship's figures TCV (Total Calculated Volume), applied by the valid V.E.F. (Vessel Experience Factor), shall be used to compute the delivered quantity of the current batch.


More Definitions of Vessel Experience Factor

Vessel Experience Factor or “VEF” means a compilation of the history of the total calculated volume vessel measurement, adjusted for onboard quantity or remaining onboard, to the total calculated volume shore measurements.
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Vessel Experience Factor or “VEF” means the factor that aims to correct the measurement of the quantity on board due to uncertainties in its tonnage table. It is a compilation of the vessel's TCV measurement history adjusted to the quantity on board before loading (On Board Quantity
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Related to Vessel Experience Factor

  • Clinical experience means providing direct services to individuals with mental illness or the provision of direct geriatric services or special education services. Experience may include supervised internships, practicums, and field experience.

  • Leverage Factor means the leverage factor in respect of a Series of ETP Securities as specified in the relevant Final Terms.

  • Loss Factor means the scaling factor determined in accordance with clause 6 and applied by the reconciliation manager to volumes of electricity measured or estimated in respect of ICPs on the Network, in order to reflect the impact of the ICP on Losses within the Network;

  • Performance Factor means any matter that could or will significantly affect a party’s ability to fulfill its obligations under this Agreement;

  • Load factor means the percentage of aircraft seats actually occupied on a flight (RPMs divided by ASMs). “NMB” means the National Mediation Board.