(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.
Collective Bargaining Agreement. A collective bargaining agreement is a binding contract that can be enforced for a specific period and is made between two parties, one of whom is the âEmployerâ or the company that enforces the agreement while the other is the âUnionsâ of the same organization or an employee belonging to a particular trade union.