Meaning of “guaranteed price” in the English Dictionary

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"guaranteed price" in Business English

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guaranteed pricenoun [ C ]

uk us

COMMERCE an arrangement in which if a company reduces the price of a product or service in the future, it promises to pay back the difference to customers who have paid a higher price:

Suppliers offer guaranteed prices to encourage long-term contracts.

(Definition of “guaranteed price” from the Cambridge Business English Dictionary © Cambridge University Press)