Section 122: Arbitral award and collective agreement to be binding

1) If any collective dispute is settled through compulsory arbitration pursuant to sub-section (1) of Section 119, the arbitral award shall be binding on the concerned parties.

2) If any party to any dispute referred to arbitration in pursuance of the order by the Ministry pursuant to sub-section (2) of Section 119 who is not satisfied with the arbitral award on the dispute fails to node down disagreement in writing to the arbitrator not later than five working days from the date of the award, such an award shall also ipso facto be binding on the concerned party after the expiration of that period.

3) The collective agreement and arbitral award need to be registered in the Office for record and enforcement thereof.

4) The collective agreement shall remain valid for two years from the date of its entry into force, if any, specified in the agreement itself and, failing the specification of such a date, from the date of signing of the agreement and from the date of the arbitral award, if any, made, and shall be valid as of law.

5) Notwithstanding anything contained in sub-section (4), the provisions in the collective agreement or arbitral award shall continue to apply unless and until it is amended or repealed by another collective agreement or arbitral award.