This policy outlines a set of procedures for establishing guidelines related to price administration, including price setup, price maintenance and review, and the timely update of prices. In this sample, a company must ensure valid and accurate prices are used in all customer orders. Product prices should be established and approved by sales. Prices may be subject to market indices and individual customer negotiations and contracts; therefore, product prices will vary among customers.

This policy applies to company employees at all locations involved in price administration, including business directors, regional sales managers, customer service representatives, account managers, the vice president of sales, etc.