fair-trade agreement

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.

Word History and Origins

Origin of fair-trade agreement¹

First recorded in 1935–40

Example Sentences

That’s a far cry from the “jump-start” to the U.S. economy promised in a so-called fair-trade agreement with South Korea signed in 2012.

Read more on Washington Times

One might as well expect a fair-trade agreement to secularize Iran.

Read more on Newsweek