Program Competitiveness Clause Samples
The Program Competitiveness clause is designed to ensure that a program, service, or offering remains competitive within its relevant market or industry. Typically, this clause may require regular benchmarking against industry standards, periodic reviews of pricing or features, or adjustments to maintain parity with competitors. Its core function is to protect the interests of the parties by ensuring that the program does not fall behind market trends, thereby maintaining value and relevance for all stakeholders.
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Program Competitiveness. Bank acknowledges Retailer’s desire to operate the Program in a competitive manner. Bank shall maintain, via publicly available information, a matrix of fees and benefits, including rewards, for the competitor private label credit card programs listed on Schedule 4.4.2 (“Competitor Card Programs”) and for a reasonable sampling of other similarly situated retailers as determined by the Management Committee. As part of the responsibilities of the Program Managers, such information shall be presented on an annual basis to the Management Committee. At Retailer’s request, the Management Committee shall discuss material discrepancies between the Program and such Competitor Card Programs, and Bank’s analysis thereof. The Management Committee shall monitor the Account Terms to benchmark the competitiveness of the Program. Bank shall present publicly available information about such other programs to the Management Committee for its consideration in reviewing pricing. The Management Committee shall engage in discussions with respect to the competitiveness of the Program based on the market as a whole that are presented to the Management Committee by Bank relating to: (i) material, foreseeable, Program–specific changes in pricing and other terms and conditions; (ii) proposed material changes to the Cardholder Loyalty Program; and (iii) proposed material product features. Bank and Retailer shall seek to keep the Program competitive, giving consideration to the specific segment targeted, by continually monitoring publicly available information concerning certain characteristics of certain credit cards similar in nature to the Program. The Management Committee shall consider benchmarking information collected pursuant to Schedule 4.4.1-B hereof in reviewing pricing for the Program.
Program Competitiveness. It is the intent of the Parties that the Program be operated in an agile manner to enable the Parties to provide a competitive Program and Cardholder experience. Without limiting the foregoing:
(a) Pricing and Terms. [*]
Program Competitiveness. If at any time Oracle believes that any ISI Member Program or ISI Member believes that any Oracle Program is inferior in any material respect to any competing third-party product, the party so believing may commission, at its expense, a review of the other party's allegedly inferior program by three (3) industry analysts, one of which will be selected by ISI Member, one of which will be selected by Oracle, and one of which will be selected by agreement of ISI Member and Oracle. If at least two (2) of such three SUBJECT TO ORACLE MANAGEMENT APPROVAL
Program Competitiveness. Belk and Bank acknowledge and agree that it is their desire that the Program will remain Competitive during the Term. Accordingly, Belk and Bank agree to take such actions from time to time to ensure that the Program remains Competitive.
Program Competitiveness