CERTIFICATE OF INSPECTION Definition

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CERTIFICATE OF INSPECTION is certification, generally by an independent third party, that the goods were in good condition at the time of shipment.

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OPERATING INTEREST is the legal right to assets used to produce revenue, e.g., produce oil or gas from a well, accompanied by the responsibilities to pay production costs and assume the risks.

ORGANIZATIONAL STRUCTURE is the delineation of responsibilities, authorities and relations organized in such a way as to enable an organization to perform its functions.

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