Meaning of “collective agreement” in the English Dictionary

"collective agreement" in Business English

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collective agreementnoun

uk us 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:

(Definition of “collective agreement” from the Cambridge Business English Dictionary © Cambridge University Press)