Royal Mail and the CWU have been in discussions for almost a year over the biggest overhaul of working practices since the business was privatised under David Cameron in 2013.
The company has said it is losing £1 million a day, with strike action by the CWU costing £200 million in lost business and additional costs.
The dispute between the union and the mail was beset by collapsed talks and a war of words.
Earlier this month, Royal Mail bosses accused the striking workers of plotting to bankrupt the company and said the CWU were “’becoming more comfortable’ with the risk of administration” during discussions.
CWU leaders then pulled back from announcing fresh strikes by Royal Mail workers.
At the time, Mr Ward said the union’s leaders did not believe more strikes were the right thing to do but there might come a time when more industrial action is called.
CWU general secretary Dave Ward and deputy general secretary Andy Furey said: “We have reached a negotiators’ agreement with Royal Mail group.
“The CWU postal executive will now meet and consider the agreement on Monday and Tuesday and we are putting in place plans to brief representatives across the union’s structures.
“On the basis that the negotiators’ agreement is endorsed by the postal executive, we will put in place a full communications plan to engage members.
“Thank you for your support and patience. It has got us to this point.”
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