The Central Arbitration Committee (CAC) has declared that our union should be recognised. What happens now?

Your union and employer have 30 days (or longer if they agree) to negotiate a collective bargaining agreement.

If there is no agreement, either party may apply to the CAC to assist.

If that doesn't result in agreement the CAC can impose a legally enforceable procedure - effectively a legally binding contract on the parties specifying the method of collective bargaining.