Advice of Fate :
ATP = Advanced Technology Products
- U.S. trade law
About 500 of some 22,000 commodity classification codes used in reporting U.S. merchandise trade are identified as “advanced technology” codes and they meet the following criteria
(1) The code contains products whose technology is from a recognized high technology field (e.g., biotechnology)
(2) These products represent leading edge technology in that field
(3) Such products constitute a significant part of all items cov¬ered in the selected classification code
A mercantile enterprise, undertaking or voyage that exposes property to maritime perils
The term advice connotes several types of forms used on the banking field. Generally speaking, an advice is a form of letter that relates or acknowledges a certain activity or result with regard to a customer’s rela¬tions with a bank. Examples include credit advice, debit advice, advice of payment and advice of execution. In commercial transactions, information on a business trans¬action such as shipment of goods.
(banking/letters of credit) The forwarding of a letter of credit, or an amendment to a letter of credit to the seller or beneficiary of the credit by the advising bank (seller’s bank)
Advice of Fate
A bank’s notification of the status of a collec¬tion which is still outstanding.
A letter of credit whose terms and conditions have been confirmed by a bank. See letter of credit; con¬firmed letter of credit.
The bank (also referred to as the seller’s or ex¬porter’s bank) which receives a letter of credit or amend¬ment to a letter of credit from the issuing bank (the buyer’s bank) and forwards it to the beneficiary (seller/exporter) of the credit. See letter of credit; confirming bank; issuing bank.
Advisory Committee On Export Policy = ACEP
- U.S. government
The ACEP is an interagency dispute resolution body that operates at the Assistant Secretary level. ACEP is chaired by the U.S. Department of Com¬merce; membership includes the Departments of Defense, Energy and State, the Arms Control and Disarmament Agency and the intelligence community. Disputes not re¬solved by the ACEP must be addressed by the cabinet- level Export Administration Review Board within specific time frames set forth under National Security Directive #53
Affiliated Foreign Group
An affiliated foreign group means (a) the foreign parent (b) any foreign person, proceeding up the foreign parent’s ownership chain, which owns more than 50 per¬cent of the person below it up to and including that person which is not owned more than 50 percent by another foreign person and (c) any foreign person, proceeding down the ownership chains of of each these members which is owned more than 50 percent by the person above it.
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