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The Standing Fish Price Setting Panel has many functions, such as facilitating collective bargaining and establishing parameters for negotiation. The Panel facilitates access by parties to collective bargaining information relating to the sale of fish, as well as acting as an arbitration panel for the parties in setting fish prices. It may also set fish prices if the parties to negotiation are unable to agree on price. The Panel focuses on matters related to the price and conditions of sale of fish.

The need for a Panel was identified in the 2005 Cashin Report PDF and the legislative framework was provided upon amendments to the Fishing Industry Collective Bargaining Act that passed in the House of Assembly on February 23, 2006.

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