What is COLLECTIVE BARGAINING AGREEMENT?

Documented, legally-enforceable contract viable for a specified period, typically one year. The management of an organization and its employees represented by an independent trade union are the usual parties to the contract. It details rules and conditions of employment, in terms of wages, working hours and conditions, overtime payments, holidays, vacations, benefits, and so on, and procedures for dispute resolution. Known also as labor agreement, union agreement, or union contract.

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