The Dublin Bus strikes have been suspended and union members will be balloted again on industrial action.
The strikes will be called off until unions have had a chance to put a proposed deal to their members.
It is understood it will give drivers an 11.25% pay rise over three years that will be backdated to January, a significant improvement on the initial 8.25% previously offered.
Siptu Transport, Energy, Aviation and Construction Division Organiser, Owen Reidy, said: "Arising from discussions this week at the WRC an improved offer on our members’ pay claim has been achieved.
"We intend to distribute and explain the proposals over the next few days with a view to balloting on their acceptance or rejection towards the end of next week.
"All upcoming industrial action at Dublin Bus has been suspended until the outcome of the ballot is known."
It comes after 29 hours of talks at the Workplace Relations Commission between unions and management.
Workers are calling for a 15% pay rise, while management had offered to abide by the Labour Court recommendation of 8.25%.
A 24-hour work stoppage has been planned for Saturday, the same day as the All-Ireland Football Final replay.
Further work stoppages are also scheduled for several dates next month.
The NBRU have also confirmed that they have agreed to put the WRC proposals to its members.
General Secretary Dermot O'Leary said: "We are prepared, along with trade union colleagues to believe that the proposals brokered by the WRC after over thirty hours of negotiations are at the optimum that can be achieved at this time.
"Having gone through eight years without a pay rise, two cost cutting plans, inclusive of pay cuts, we remain of the belief that our members are deserving of a significant pay award.
"We will now move to immediately consult with our members in order to explain the construct of the proposal which has emanated from these comprehensive set of negotiations."