Yes, there are different tolerances Paul. I can't remember them, but I'll try and find the relevant doc. It depends what is being measured, and under what circumstances.
I get my 16th ed meter and other test gear calibrated annually so I don't worry about the tolerance; it's all dealt with by the engineers.
[This message has been edited by uksparky (edited 12-11-2004).]
If hindsight were foresight, we'd all be millionaires!