New Brunswick's St. Thomas University and its striking faculty have agreed to binding arbitration, with classes set to resume on Tuesday.

The labour dispute began Dec. 27 when the university locked out the professors at the Fredericton university.

The school recently lifted the lockout, but faculty had already voted to strike.

The university's 2,500 students haven't returned to classes following the Christmas break.

The main issues in the dispute have been wages and workload.

Faculty association members voted down the university's latest offer late last month, and negotiations resumed on Wednesday.