(1) The term of validity for a collective agreement may be determined by an agreement between labor and management within the scope not exceeding three years. <Amended on Jan. 5, 2021>
(2) Where the term of validity is not specified in a collective agreement or exceeds the period specified in paragraph (1), it shall be three years. <Amended on Jan. 5, 2021>
(3) When, even though both of the parties continued to conduct collective bargaining to make a new collective agreement before or after the expiry of the term of validity of an existing agreement, they fails to make a new collective agreement, the existing collective agreement shall remain valid for three more months after its expiry, except as there exists a separate agreement to the contrary; provided, where the collective agreement contains separate provisions to the effect that when a new collective agreement is not made in spite of the expiry of the term of an existing collective agreement, said existing collective agreement shall remain effective until a new collective agreement is made, such separate provisions shall be observed; and any party to the agreement may terminate the existing collective agreement by notifying the other party of such termination six months in advance of the date he intends to terminate it. <Amended on Feb. 20, 1998>[Title Amended on Jan. 5, 2021]