fair-trade agreement

American  

noun

1. an agreement or contract between a manufacturer and a retailer to sell a branded or trademarked product at no less than a specific price: legally prohibited after 1975.

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Etymology

Origin of fair-trade agreement

First recorded in 1935–40

Example Sentences

They refused to sign a fair-trade agreement with Seagram and Calvert distillers, and sold their liquor at cut rates, despite Louisiana's fair-trade law that made such price-cutting illegal.

From Time Magazine Archive