collective bargaining definition econ
Collective Bargaining Collective bargaining consists of negotiations between an employer and a group of employees that determine the conditions of employment. The result of collective bargaining procedure is called the collective bargaining agreement or CBA. Often employees are represented in the bargaining by a union or other labor organization. Collective bargaining is governed by federal and state statutory law, administrative agency regulations, and judicial decisions. Unions and management engage in negotiations in order to reach a CBA agreement (contract).