Collective bargaining has been described as a “voluntary negotiation between employers or employers’ organizations and workers’ organizations, with a view to the regulation of terms and conditions of employment by collective agreements” (ILO, 1949). Collective bargaining is generally an industrial relations tool or system in which the concept of negotiation is applied in the employment relationship. In this concept, the principles applicable in negotiation are useful in collective bargaining too. The ultimate purpose of these bargaining is for the interest of the employees rather than to the employer (Silva, 1996). It seeks to create a harmonious relationship as well as improving the terms and conditions of employment among the members of the group.