If the parties are unable to agree on the terms of a renewed or revised collective agreement or a new collective agreement, either party may – after a period of at least 90 days has elapsed since notice was given to commence collective bargaining under Section 60 or 61 of The Labour Relations Act – notify the other in writing of its desire to submit the matters remaining in dispute to arbitration. The matters in dispute must then be submitted to arbitration in accordance with this section.