Examlex
The rate cap on an ARM sets a dollar limit on how much your monthly payment can increase during any adjustment period.
Good Faith Bargaining
Negotiation between employers and employees' representatives that is characterized by honest, sincere intention to reach a mutually acceptable agreement.
Interest-Based Bargaining
A negotiation strategy focusing on the underlying interests and needs of the parties involved rather than fixed positions.
Traditional Bargaining
The conventional approach to labor negotiation where union and management representatives discuss terms and conditions of employment, focusing on wages and working conditions.
Nonunionized Workers
Employees who are not members of a labor union and therefore are not covered by collective bargaining agreements.
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