(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 union may negotiate with a single employer (who is typically representing a company's shareholders) or may negotiate with a group of businesses, depending on the country, to reach an industry wide agreement. A collective agreement functions as a labour contract between an employer and one or more unions.