Define A Sweetheart Agreement

mkirilova, 9 април, 2021

A treasury contract is a contract entered into by agreements between management and workers` representatives with favourable management conditions and unfavourable to union workers. It is also called the Sweetheart Agreement. It is an agreement that has benefited some, but not others, in secret, to benefit some at the expense of the rest, including a labour agreement between union and administrative representatives, which is not in the interests of the workers. This term also applies to special agreements between private companies and public authorities, the group and sometimes a government official by reaping the benefits, not the public. [3] Non-tender contracts may be awarded to individuals with political ties or donations to influential politicians. [4] Sometimes a treasury agreement involves tax breaks or other incentives to encourage a company to do business in that city or state. [5] [6] The Landrum-Griffin Act of 1959 was a federal law that tried to prevent labour contracts and other forms of trade corrupted by unions. [13] A “Sweetheart Settlement” may also be done in a legal context. In a class action, for example, lawyers representing a class of plaintiffs can obtain an agreement with the defendant, in which the main result is a lucrative fee for lawyers and not a maximum compensation for class members. [7] A 2019 study examined the language of government orders and searched for terms “Sweetheart Terms” – formulations that are “very business-friendly, but apparently not beneficial to the government.” They found that such language is more often included in contracts with companies that make political contributions. [14] A treasury agreement or treasury contract is a contractual contract that is generally drafted in secret and which some of the parties benefit greatly from, while it unduly disadvantages other parties or the general public. The term was coined in the 1940s to describe corrupt employment contracts, which are more favourable to the employer than to workers, and which generally include a kind of kickback or special treatment for the labour negotiator.

[1] [2] Sweetheart contracts were prohibited by the Federal Taft-Hartley Act and prohibited employers from creating corporate-sponsored work organizations.

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