A collective agreement, collective agreement (CLA) or collective agreement (CLA) is a written contract negotiated by one or more unions with the management of a company (or employers` organisation) that governs workers` working conditions. This includes regulating workers` wages, benefits and obligations, as well as the obligations and responsibilities of the employer or employer, and often involves rules relating to the dispute settlement procedure. In the absence of a remuneration agreement, remuneration is the remuneration normally paid for a similar activity under similar conditions. For example, if the cashier operates without written agreement and the commitments made orally cannot be proved, she is entitled to the average remuneration of colleagues performing similar work or the average salary of the same sector of activity. The wage increases contained in the agreement are all in the form of wage increases to monthly wages. On 21 January 2016, a collective agreement was signed with the Federation of Icelandic Employers (SA). The agreement was adopted by 91.28% of the vote cast in the vote that ended on 24th February 2016. The Employment Contracts Act does not impose binding elements on remuneration. This means that the parties are free to decide what the remuneration is and how it is calculated. For example, compensation can be calculated on the basis of time (hourly wage, monthly salary) or workload (piecework wage). A remuneration agreement should contain information about the parties involved (employers and employees) and details of how the worker is compensated for his work, such as hourly wage, annual salary, commission, etc.