A dealer who buys a product from a manufacturer under a minimum resale price maintenance agreement is required: to sell for at least a certain maximum price.
Price can be defined as an amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire a product or service, at a given period of time.
A minimum resale price maintenance agreement (RPM) is a price arrangement in which a dealer (reseller) who buys a product from a manufacturer agrees to sell the product for at least a certain maximum price such as:
- At or below a price ceiling.
- At or above a price floor.
In conclusion, a dealer who buys a product from a manufacturer under a minimum resale price maintenance agreement is required to sell for at least a certain maximum price.
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