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English definition of “collective agreement”

collective agreement

noun     HR
[C] a formal agreement between groups or people , especially an agreement reached by collective bargaining : Talks stalled earlier this year after they failed to reach a collective agreement .
[U] the process in which groups or people reach an agreement about something, especially by collective bargaining : The required reduction in the workforce was achieved by collective agreement .
(Definition of collective agreement noun from the Cambridge Business English Dictionary © Cambridge University Press)
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