Good Faith Bargaining

[ɡʊd | feɪθ | ˈbɑːɡɪn]

Good Faith Bargaining is an agreement between two parties to achieve a particular aim. This type of bargaining requires a genuine and honest interest, and to ensure that the other party gets its response with reasonable time, this also involves a genuine consideration to the terms that have been put into place; which is a requirement under the Fair Work Act 2009.

Some organisations decide to go into good faith bargaining in order to achieve business targets, others enter into this bargaining to improve their competitive advantage. Regardless of which reason it is, organisation that enter into this type of bargaining must ensure that terms are genuinely and honestly met.


Part of speech:
Use in a sentence:
Practice good faith bargaining.
Good Faith Bargaining