Hospital consultants expect to receive a document of understanding from talks chairperson Mark Connaughton within the next few days.
Mr Connaughton chaired marathon talks last week between doctors and health employers on new contracts.
The target date for the implementation of new contracts is 1 June.
The Irish Hospital Consultants' Association has signalled its support for the deal, subject to clarifications. A ballot of members is expected to take place next month.
In a circular to its 1,900 members, the organisation says that 'a significant amount of clarification will be received over the coming weeks'.
At a meeting on 16 February, the IHCA says it will review the final documentation and decide on what recommendation if any to convey to members.
IHCA Secretary General Finbarr Fitzpatrick warned that it would probably be late this year before the first group of new consultants appointed under a new contract would be in place.
Existing consultants will be given around three months to decide if they wish to accept the new contract, which provides for salaries of between €175,000 and €240,000 a year, plus allowances.
The Irish Medical Organisation has not reached agreement with employers on the new contract but it remains in discussions with Mr Connaughton.
