Garrett Electronics, Inc.
Minimum Advertised Price Policy
Effective May 22, 2007
Garrett Electronics, Inc., ("Garrett") has unilaterally adopted this Minimum Advertised Price Policy ("MAP Policy"), which shall apply to distributors and retailers, including catalog and internet retailers, (collectively, "Resellers") located in the US who resell Garrett products to end users. Garrett is adopting this policy to help preserve Garrett's standard for providing end users with high quality products and good sales support. One aspect of meeting the Garrett standard is a Resellers advertised price. This MAP policy shall apply to those products listed in Garret's current Consumer Division Buyer's Guide. The minimum advertised price for such products shall not be lower than 85% of the Suggested Retail Price ("SRP") for each respective product as provided in Garrett's Consumer Division Buyer's Guide in effect at that time. Resellers must be in compliance with this policy immediately.
If Garrett determines, to its sole satisfaction, that a Reseller has taken any action that does not preserve Garrett's Standards, which may include advertising a product at a price below 85% of the SRP: (i) Garrett will immediately cancel all orders from that Reseller; and (ii) Garrett will refuse to accept any new orders from that Reseller for a period of 90 days; (iii) for Resellers violating this MAP Policy a second time, Garrett will immediately cancel all orders and Garrett will refuse to accept any new orders from that Reseller indefinitely.
EACH GARRETT RESELLER IS FREE TO INDEPENDENTLY DECIDE WHETER OR NOT TO FOLLOW THIS MAP POLICY IN CONNECTION WITH ITS ADVERTISED PRICE. HOWEVER, ADVERTISING A PRICE, OR TAKING OTHER ACTION THAT IS CONTRARY TO THIS POLICY MAY RESULT IN THE ABOVE MENTIONED ACTIONS. IN ADDITION, THIS MAP POLICY DOES NOT APPLY TO A RESELLER'S ACTUAL SALES PRICES. EACH GARRETT RESELLER IS FREE TO INDEPENDENTLY SET ACTUAL RESALE PRICES AT WHATEVER LEVEL THE RESELLER CHOOSES.
Garrett does not ask for, nor will it accept or discuss, any assurance of compliance or agreement from a Reseller regarding this MAP Policy or any conditions of acceptance related to this MAP Policy. Nothing in this MAP Policy (or in any agreement between Reseller and Garrett) is intended to be, nor shall be construed to be, an agreement between Garrett and any Reseller as to the minimum prices at which the Reseller shall advertise or resell Garrett products. The only Garrett representative authorized to address this MAP Policy is James Hurst at 800-527-4011 or at email@example.com.
No Garrett representative or employee has authority to modify or alter this MAP Policy, or to request that the advertised price or resale price of a Garrett product be at or above the price on the MAP Listing. Any comments to the contrary by a Garrett representative are expressly unauthorized and disclaimed by Garrett. The foregoing MAP Policy and any MAP listing is subject to modification or discontinuance by Garrett, in its sole and absolute discretion, at any time. ANY ACTION TAKEN BY GARRETT UNDER THIS POLICY SHALL BE WITHOUT LIABILITY TO GARRETT.
1. This MAP Policy does not apply to Resellers who sell Garrett products via a web page that is protected by customer account logins or passwords.
2. "Advertising" means all media, including print, television, radio, direct mail, catalogs, and the Internet, including websites. In-store displays, point-of-sale sales, hangtags, or bar codes or similar marks on products or product packaging which merely state the price are not considered "advertising" for purposes of this MAP Policy. This MAP policy does not apply to the actual sales price on any "check-out page" of any Reseller's website or related internet site (typically the page at which the end user finally purchases the product). This MAP Policy does not apply to any other page(s) on the Reseller's website.
3. All forms of "Bundling" are banned on E-bay unless it is a factory authorized program. The practice of "Bundling" Garrett Products is acceptable provided the sum total of the items equals or exceeds MAP.