Is this acceptable business behavior?

A while back, we setup a mutually beneficial arrangement with another company. Then last week, I found out they didn't uphold their end of the bargain. I contacted them, and they gave me a list of excuses, saying that it wasn't fair, etc, when they...

suggested a number of the terms we agreed to with their company.

Now, if you setup an agreement with a third party, and they drop it, wouldn't you expect a note at the very least that says they're ending the agreement? Instead of finding out much later, after they moved on?

That was definitely a stupid move for them, they should have at least let you know somehow. Very unprofessional, very unethical.

Wow - that's very unacceptable.
I guess the person knew you'd have better suggestions instead of them just dropping it like that so they decided not to tell you. Excuses? I don't think it wasn't fair is a good enough excuse to end something like that. I'm sure you would have been willing to talk with them about problems, goals, etc.

I bet if you mention the Better Business Bureau, they'll shape up. Maybe offer some comps, too.