Final answer:
Yes, it is true that parties engaged in collective bargaining must negotiate in good faith to create an agreement that includes grievance and arbitration procedures, as a means to pre-emptively resolve disputes and avoid strikes or lockouts.
Step-by-step explanation:
True, once the parties have entered into the collective bargaining process, each is bound by a duty of good faith to make substantive efforts to negotiate a collective agreement. This agreement typically includes grievance and arbitration procedures for resolving disputes. These mechanisms are often preferred over disruptive actions such as strikes by employees and lockouts by employers. The historical context of organized labor in the U.S and the passage of significant labor laws such as the National Labor Relations Act of 1935 and the Taft-Hartley Act of 1947 demonstrate the recognized rights of workers to organize, bargain collectively, and the legal frameworks in place to resolve labor disputes.