(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.
Generally, employers and unions are subject to the following rules when engaging in collective bargaining: Employers are required to bargain with the exclusive representative of the employees over mandatory subjects of bargaining, but don't have to bargain over permissive subjects of bargaining.