Explanation:

Collective bargaining is the formal process of negotiation between an employer and a group of employees—often with their union representative—that sets the terms and conditions of work. Collective bargaining results in a collective bargaining agreement (CBA), a legally binding agreement that lays out policies agreed to by management and labor. Because of its role in governing the actions of both management and labor, a CBA is often referred to as the “law” of the workplace. While each agreement is unique to a given labor-management relationship, most CBAs include provisions that address compensation, scheduling, promotions, discipline and job standards. CBAs also usually contain a grievance procedure, which provides a process for resolving disputes between management and labor over interpretation of the contract and in the event of employee discipline or termination.