resale price maintenance
UK agreement with supplier restricting retail price formerly in the United Kingdom, an agreement between suppliers or manufacturers and retailers, restricting the price that retailers can ask for a product or service. Resale price maintenance was designed to enable all retailers to make a profit. The Resale Prices Act now prevents this practice on the grounds that it is uncompetitive. Now, unless they can prove that resale price maintenance is in the public interest, manufacturers can only recommend a retail price.
Related definitions of "resale price maintenance"
- Abbr RPM