Terms of Settlement of Bargaining between - 

NAME UNION
(“the union”)
NAME EMPLOYER
(“the employer”)

The bargaining representatives for the members of the union employed by the employer, and the bargaining representative for the employer have reached agreement on the following proposed terms of settlement.

These terms are confirmation of the agreement reached at the table by the parties. 

These terms and conditions will be binding on the parties and {choose one} will form or will be incorporated in a collective employment agreement. Once ratified, the collective agreement will be binding on the employer, the union and the union members whose work comes within the coverage specified. 

1.	Coverage

The coverage of the agreement will be:

Specify by stating in writing, or by referring to another document containing the coverage clause, such as the previous collective agreement.

2.	Changes in Remuneration

Specify amount and to what it applies.  Options include paid rates to employees or rates specified in the agreement.
Option A:	All rates of remuneration specified in the new collective agreement (including wages/salary/allowances) will increase by...
Option B:	Wages/salary/allowances [cross out what doesn’t apply] payable to employees bound by the agreement will increase by…]
Option C:	[Other arrangement]

3.	Other agreed changes in terms or conditions of employment are as follows:
	Add as applicable

4.	 Arrears will be payable to…

Specify to whom the increase will apply e.g. union members on the date the terms of settlement are ratified.

5.	Arrears will be paid for the period from…….

Specify date from which arrears will take effect e.g., the date of initiation of bargaining or the date of the expiry of any previous collective agreement.

7.	The method of calculation of arrears will be…

Specify the way the increase will apply, e.g., applying the increase to all earnings during the relevant period; or, applying the increase to all earnings except for payment for annual holidays.

6.	The increase will take effect from…

Specify the date, e.g. upon the ratification of the terms of settlement; or, upon the execution of the collective agreement.

EXECUTION

Date							Date

Signature						Signature

Name							Name

[For the Union]					[For the Employer]