master labor agreement

master labor agreement definition - business

master labor agreement

An industry-wide employment contract that addresses major issues such as wages and benefits. For example, the Teamsters Union signs a master labor agreement with trucking companies. Master labor agreements often allow additional accords at the local level.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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