(Contractor name) is not to incur any additional costs under the contract until it receives a modification that increases the available funding. At this time, (Contractor name) may not recover costs in excess of the (dollar amount), the funding currently available for payment on the contract.
Also called a contract or a union contract, a collective bargaining agreement (CBA) is an legally binding contract between the employees (union) and the employer, arrived at through negotiations between the parties, which lays out the rights and duties of each party.
The rights and duties of both employers and employees are found in the contract of employment. They are called 'terms' of the contract. Some of these terms are 'express' terms â that is they are expressly or specifically stated, either orally (at the initial interview, say) or in writing. Express terms include things like pay, hours and holidays.