sweetheart contract

1. An industrial agreement made between an employer and local labor union officials containing terms beneficial to the employer without the knowledge of the employees, typically in exchange for money to the union or its leaders. It was later discovered that the union leader had made a sweetheart contract with the company that eliminated employees' right to strike in exchange for a hefty yearly bonus for himself. The automotive manufacturer decided to move its factories to a different country, where it established a sweetheart contract with the local labor union to pay workers substantially less than those previously enjoyed by American employees.2. Any kind of agreement or contract that is mutually beneficial two the two parties directly involved, typically at the expense of a third party that is not privy to the agreement. It turns out the athletic director had in place a sweetheart contract with the national athletics association, essentially receiving kickbacks every time one of his athletes performed well. The charity has come under fire for what some are calling a sweetheart contract with a for-profit events organizer that receives nearly 40% of the annual donations the charity receives.See also: contract, sweetheart

sweetheart contract

A contract entered into by related parties who do not negotiate aggressively for the best terms and conditions and which usually has the effect of costing a third party more money than would otherwise be necessary under the circumstances.At one time it was common for developers to retain title to recreational amenities in a subdivision or condo project and charge high rents for their usage.This has largely been regulated out of existence,but such sweetheart contracts always seems to arise in some other guise.

单词	sweetheart contract
释义	sweetheart contract sweet′heart con`tract n. a contract made through collusion between management and labor representatives having terms detrimental to union workers. Also called sweet′heart agree`ment. sweetheart contract sweetheart contract 1. An industrial agreement made between an employer and local labor union officials containing terms beneficial to the employer without the knowledge of the employees, typically in exchange for money to the union or its leaders. It was later discovered that the union leader had made a sweetheart contract with the company that eliminated employees' right to strike in exchange for a hefty yearly bonus for himself. The automotive manufacturer decided to move its factories to a different country, where it established a sweetheart contract with the local labor union to pay workers substantially less than those previously enjoyed by American employees.2. Any kind of agreement or contract that is mutually beneficial two the two parties directly involved, typically at the expense of a third party that is not privy to the agreement. It turns out the athletic director had in place a sweetheart contract with the national athletics association, essentially receiving kickbacks every time one of his athletes performed well. The charity has come under fire for what some are calling a sweetheart contract with a for-profit events organizer that receives nearly 40% of the annual donations the charity receives.See also: contract, sweetheart sweetheart contract sweetheart contract A contract entered into by related parties who do not negotiate aggressively for the best terms and conditions and which usually has the effect of costing a third party more money than would otherwise be necessary under the circumstances.At one time it was common for developers to retain title to recreational amenities in a subdivision or condo project and charge high rents for their usage.This has largely been regulated out of existence,but such sweetheart contracts always seems to arise in some other guise.
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sweetheart contract