As a global leader in industrial high force tools and power sources, SPX FLOW HT Hydraulic Technologies (“SPX FLOW HT”) maintains a consistent brand image emphasizing the innovation, durability, quality and safety of its products. We also recognize that our distributors, resellers and retailers (“Channel Partners”) invest a significant amount of time and resources in promoting and selling our products to the ultimate end users. To support the brand image and the efforts of both SPX FLOW HT and our Channel Partners, we believe that SPX FLOW HT branded products should be advertised at prices that reflect and protect the value of its brand.
For this reason, SPX FLOW HT unilaterally has established a Minimum Advertised Price ("MAP") Policy for all SPX FLOW HT products on the terms and conditions set forth below.
SPX FLOW HT provides its Channel Partners with list prices for all SPX FLOW HT products from time to time (typically on an annual basis) which are applicable in the United States and Canada. Channel Partners may not advertise SPX FLOW HT products at prices that are more than 15% below the then current SPX FLOW HT list price.
This MAP Policy applies to all advertising media, including without limitation, print, television, radio, internet, flyers, posters, catalogs, mass emails, mailers, and magazines. This MAP Policy applies only to advertised prices. Channel Partners are free to sell SPX FLOW HT products at prices they choose. SPX FLOW HT does not impose, nor will it seek, discuss or accept any agreement or assurance from any Channel Partner concerning the prices at which such Channel Partner decides to sell SPX FLOW HT products. From time to time SPX FLOW HT may choose to offer special promotions on certain SPX FLOW HT products. In such an event, SPX FLOW HT reserves the right to modify or suspend this MAP Policy in whole or in part by notifying Channel Partners of the duration and nature of the modification or suspension.
Failure to abide by this MAP Policy will result in such consequences as SPX FLOW HT, in its sole discretion, may determine. These consequences may include, without limitation, ineligibility to participate in sales programs, loss of Marketing Development Funds, loss of preferred partner pricing, loss of access to particular SPX FLOW HT products and termination of eligibility as an authorized SPX FLOW HT Channel Partner.
SPX FLOW HT may engage in monitoring of advertised prices, either directly or via the use of third parties. Third parties retained by SPX FLOW HT may engage in monitoring of any advertisements.
SPX FLOW HT reserves the right, acting in its sole discretion, to administer and interpret this MAP Policy and to make a final determination as to the compliance of any advertisement. Channel Partners are responsible for ensuring that their advertising of SPX FLOW HT products complies with all applicable local, state and federal laws, ordinances and statutes. Modification of this MAP Policy or waiver of compliance with the terms hereof must be in writing and must come from the SPX FLOW HT VP of Global Sales and Marketing.
THE ABOVE POLICY SHALL APPLY TO SPX FLOW HT BRANDS – POWER TEAM, BOLTING SYSTEMS, GLOBE, STONE AND HYTEC.
