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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.


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Word History and Origins

Origin of fair-trade agreement1

First recorded in 1935–40
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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.

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

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fair tradefair-trade law