fair-trade agreement

noun

Definition of fair-trade agreement 

: an agreement between a producer and a seller that commodities bearing a trademark, label, or brand name belonging to the producer be sold at or above a specified price

First Known Use of fair-trade agreement

1937, in the meaning defined above

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The first known use of fair-trade agreement was in 1937

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fair-trade agreement

noun

Legal Definition of fair-trade agreement 

: an agreement between a producer and a seller that commodities bearing a trademark, label, or trade name belonging to the producer be sold at or above a specified price

Note: Most fair-trade agreements are illegal.

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