Agreement 2
Agreement 2 : A mutual understanding, usually in writing, between employers, workers and/or their representatives resulting from a negotiation process. The scope as well as the coverage of an agreement will depend on the parties and the subject matter. An agreement usually concerns the terms and conditions of employment (applicable for a fixed period of time) or the basis for addressing an issue. An agreement can vary in terms of formality, and may or may not be legally binding. It usually has to be registered before coming into legal effect. See also: Collective bargaining
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