no-strike clause

no-strike clause definition - business

no-strike clause

A written agreement by a union not to engage in an organized work stoppage, generally in return for a concession by the employer. A no-strike pledge is often accompanied by an agreement for binding arbitration.

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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