On Wednesday afternoon, May will discuss the agreement with her Cabinet.
Both the United Kingdom and EU want to schedule a special summit of European leaders at the end of November to sign off the withdrawal deal, but time is running out.
Details of the agreement have not yet been released, but Nigel Dodds, the deputy leader of the Northern Irish Democratic Unionist Party told Reuters, "The trick will be for Theresa May, can she satisfy everyone?"
Former foreign secretary Boris Johnson, a leading Brexit supporter who quit the government in July over May's approach, said he would fight the draft agreement. This would leave parliaments in Westminster and Brussels with precious little time to scrutinise it, and May's government with no choice but to begin no-deal preparation.
Following months of bickering, brinkmanship and ministerial resignations, the United Kingdom may be finally ready to leave the European Union.
Major British food manufacturer Premier Food told France 24 that it is preparing for any trading chaos that might arise if no deal is reached.
"Cabinet will meet at 2:00 pm (1400 GMT) tomorrow to consider the draft agreement the negotiating teams have reached in Brussels, and to decide on next steps", it said.
Many were hoping for a second People's Vote on Brexit, now the reality of what was on the table was more clear.
European Union leaders could meet on Nov 25 for a summit to seal the Brexit deal if May's Cabinet approves the text, diplomatic sources said.
Gaza violence erupts after covert op killings
For over seven months, Hamas has been leading protests along the Israeli border aimed in large part at breaking the blockade. Conricus said all of the buildings targeted by the Israeli military were "owned, operated and used by Hamas".
The pound surged on the news, rising by 1 percent against the dollar and 0.5 percent against the euro compared to late Monday.
In a statement published this evening, Foster said: "It would be democratically unacceptable for Northern Ireland trade rules to be set by Brussels".
Even with such measures in place, the British government says leaving the European Union without a deal could cause major economic disruption, with gridlock at ports and disruption to supplies of foods, goods and medicines.
"I think it's the worst of all worlds", former education minister Justine Greening, who supported staying in the European Union in the 2016 Brexit referendum, told BBC radio, adding that she did not think there was any chance it could get through parliament. "Chuck it out." Johnson's brother, Jo, a pro-European, resigned from May's government on Friday, calling for another referendum to avoid her Brexit plans unleashing Britain's greatest crisis since World War II.
The backstop is the mechanism that will ensure there is no hard border in Ireland after Brexit, acting as a fallback if the new trade relationship after the transition fails to deliver no hard border.
The withdrawal agreement, the draft exit treaty, is already slated to be comprised of more than 400 pages of dense legal text.
Brexiteers are concerned that this arrangement will leave the United Kingdom trapped in a customs union with the EU for years to come, unable to sign new free-trade deals.
The broadcaster said the deal involved one overall backstop in the form of a UK-wide customs arrangement, but with deeper provisions for Northern Ireland on customs and regulations.