Question

19. Describe and define in detail, the term: Bargaining in Good Faith”. ( related to labor relations management)

Answer 1

Bargaining in Good Faith is defined as a duty of both the parties to negotiate and formulate a contract at the right moment by mutual trust and respect for each party and with willingness to reach to an agreement which is within the scope of contract.

Both the parties do not have to agree to any proposal made by the other party or is it required to make any concession to the other party as well. In this concept, there is a lot of trust between both the parties and common agreement is reached with regards to high trust an respect for each other. Most of the times, the parties have already executed such contracts before and Bargaining in Good Faith is a result of comfort level of each party with the other due to prior good experience.