Aft :

AU = African Union

(Formerly, the Organization of African Unity - OAU) The OAU was founded in May 1963 with 32 African countries as original members; it had 51 members in 1990. The Organiza¬tion’s aim was to further African unity and solidarity, to coor¬dinate political, economic, cultural, scientific, and defense policies; and to eliminate colonialism in Africa. The OAU, after a series of initiatives in the late 1990's, launched the Af¬rican Union through the Durban Summit of 2002. Contact: The African Union; PO Box 3243; W21K19 Addis Ababa, Ethiopia

Aft - shipping

Direction toward the stem of the vessel (ship or aircraft)

After Date – banking

A notation used on financial instruments (such as drafts or bills of exchange) to fix the maturity date as a fixed number of days past the date of drawing of the draft. For example, if a draft stipulates “60 days after date,” it means that the draft is due (payable) 60 days after the date it was drawn. This has the effect of fixing the date of ma¬turity of the draft, independent of the date of acceptance of the draft

Aftermarket – commerce

(a) The market for replacement parts, acces¬sories and consumable supplies used in the repair, en¬hancement or maintenance of a product after its original sale

(b) The secondary or resale market for a product after sales of new products has ceased

Aftermarket – securities

Trading activity in a security after its initial public offering (IPO)

After Sight – banking

A notation on a draft that indicates that payment is due a fixed number of days after the draft has been pre¬sented to the drawee. For example, “30 days after sight” means that the drawee has 30 days from the date of pre¬sentation of the draft to make payment

Agadir Agreement - trade agreement

The implementation of the Agadir Declaration for the establishment of a free trade zone be¬tween Arabic Mediterranean nations. The Agadir Agree¬ment was signed in Rabat, Morocco on February 25,2004. The signatories to the agreement include Jordan, Timisia, Egypt and Morocco

Agency – law

A relationship between one individual or legal entity (the agent) who represents, acts on behalf of, and binds an¬other individual or legal entity (the principal) in accor¬dance with the principal’s request or instruction. In some countries, agency is more narrowly defined as a relation¬ship created only by a written agreement or a power of at¬torney, entered into by a principal and a person who is designated to act for the principal within the limits of the written document creating the agency

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