Custody transfer

In fluid measurement, a custody transfer point is a metering point at a location where the fluid is being measured for sale from one party to another -- hence the term 'custody transfer.'. Custody transfer measurement is distinct from some other types of measurement because of the contractual nature of the meter. A legal regulatory environment has been established in most jurisdictions. Such regulations dictate anti-fraud provisions and specifications regarding minimum precision and accuracy.

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In Canada, for instance, all measurement of a custody transfer nature falls under the purview of Measurement Canada. In the USA, the Federal Energy Regulatory Commission (FERC) controls the standards which must be met for interstate trade.