What is specified? Your Contract should spell out the tolerances.
American Petroleum Institute (API) Publication 650, Standard for Welded Steel Tanks for Oil Storage, paragraph 5.5.3 specifies that with a horizontal sweep board 36 inches long, peaking shall not exceed 1/2 inch.
Peaking is when the vertical shell weld or weld joint is not properly fitted and it makes a peak at the joint. Sometimes this is caused because the shell plate wasn't properly rolled. The radius of the tank in that area will not be correct. It is checked by cutting a 36 inches long board to the outside radius of the tank, holding the board against the weld, and measuring the distance between the board and the tank shell. If the weld or joint holds the board more than 1/2 inch from the shell, then the joint has too much peaking.