fair-trade agreement
- A pact between a manufacturer and a distributor, requiring that products marked with the manufacturer's trademark, brand, or business name be sold at a predefined price or higher
- The coffee shop owner had to raise prices due to the fair-trade agreement they had with their coffee bean supplier.
- The consumer electronics store could not offer discounts due to the fair-trade agreement with the gadget manufacturer.
- The fair-trade agreement ensures that the artisan gets a decent price for the handicrafts sold through the retail store.
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