collective bargaining agreement

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Tags: labour

Written, legally enforceable contract for a specified period (usually one year), between the management of an organization and its employees represented by an independent trade union. It sets down and defines conditions of employment (wages, working hours and conditions, overtime payments, holidays, vacations, benefits, etc.) and procedures for dispute resolution. Also called labor agreement, union agreement, or union contract.
(Read more: http://www.businessdictionary.com/definition/collective-bargaining-agreement.html#ixzz2IM6UN9ps)

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