A collective wage agreement ensures minimum terms for all employees unless special terms or company agreements are made.
VR makes collective agreements with the Confederation of Icelandic Enterprise (Samtök atvinnulífsins, SA) and the Icelandic Federation of Trade (FA, formerly named FÍS), in addition to several companies which stand outside aforementioned organisations.
The vast majority of VR members work according to the VR and SA agreement.