information agreement

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An agreement by a number of firms to provide one another with information on their prices, discounts, and conditions of sale. This information is usually provided through a trade association, either before or after changes are made. While such an exchange of information is not itself a restrictive practice, it could clearly assist in collusion. In the UK such agreements are required to be registered with the Office of Fair Trading, and may be referred to the Restrictive Practices Court.

Subjects: Economics.

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