Fast-fashion retailer H&M has agreed to sign onto a binding accord to improve working conditions in Bangladesh garment factories, a move that labor advocates hope will set an example for other major clothing brands in the wake of the Rana Plaza disaster.

In committing to what's known as the Accord on Fire and Building Safety in Bangladesh, H&M said in a statement that it hoped the agreement would help lead to an "industry in which no worker needs to fear fires, building collapses or other accidents that could be prevented with reasonable health and safety measures."

The deadline for signing the accord is Wednesday, and its boosters hope the announcement by H&M will spur other brands to follow suit. Although the text of the accord has not been made public yet, the language is expected to require signatories to underwrite improvements in dangerous factories to address issues like fire safety and structural problems. It will probably also grant workers the right to refuse dangerous work and establish a grievance process for workers.

Hours after the H&M announcement, Dutch retailer C&A announced that it, too, would sign onto the agreement. And according to a tweet from the New York Times' Steven Greenhouse, Spanish-owned Inditex, the parent company of fast fashion retailer Zara, said it planned to join the accord as well.

The amount of money brands will be expected to pay toward safety improvements will be capped, with a sliding scale based on how much business each company has in Bangladesh. H&M is believed to be the largest western clothing producer in the country.

The international labor federation IndustriALL Global Union has played a role in the discussions, and Jyrki Raina, the group's general secretary, was quick to praise H&M's move on Monday.

"We welcome this step taken by H&M," Jyrki said, calling the accord a "historic deal." "Unprecedented attention is now turning on international retailers and clothing brands to join the broad coalition."

The idea of such an accord is not new -- advocacy groups have been pressuring retailers and clothing brands for years to sign onto binding agreements, rather than voluntary monitoring programs or donations in the wake of disasters. But with over 1,000 people dead in the wake of the Rana Plaza tragedy, worker advocates say public pressure has left brands with little choice but to make more meaningful commitments.

"H&M’s decision to sign the accord is crucial," said Scott Nova, head of the Worker Rights Consortium, which has been publicly urging companies like Walmart and Gap to sign such an agreement. "They are the single largest producer of apparel in Bangladesh, ahead even of Wal-Mart. This accord now has tremendous momentum."

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  • Bangladeshi garment workers set fire to furniture from a police control room during a protest against the collapse of an eight-story building that housed several garment factories and poor working conditions of the employees, in Dhaka, Bangladesh, Saturday, April 27, 2013. Police in Bangladesh took into custody five people in connection with the collapse of a shoddily-constructed building that collapsed this week, as rescue workers pulled out 19 survivors out of the rubble on Saturday and vowed to continue as long as necessary to find others despite fading hopes. (AP Photo/A.M. Ahad)

  • Bangladeshi policemen walk after chasing garment workers protesting against the collapse of an eight-story building that housed several garment factories and their employees, in Dhaka, Bangladesh, Saturday, April 27, 2013. Police in Bangladesh took into custody five people in connection with the collapse of a shoddily-constructed building that collapsed this week, as rescue workers pulled out 19 survivors out of the rubble on Saturday and vowed to continue as long as necessary to find others despite fading hopes. (AP Photo/A.M. Ahad)

  • A Bangladeshi Muslim rescue worker prays on the rubble of a building that collapsed Wednesday in Savar, near Dhaka, Bangladesh, Saturday, April 27, 2013. Police in Bangladesh arrested two owners of a garment factory in a shoddily-constructed building that collapsed this week, killing at least 324 people, as protests spread to a second city Saturday with hundreds of people throwing stones and setting fire to vehicles. (AP Photo/Kevin Frayer)

  • A girl cries for her missing mother at the site of the garment building factory that collapsed Wednesday in Savar, near Dhaka, Bangladesh, Saturday, April 27, 2013. Police in Bangladesh took five people into custody in connection with the collapse of a shoddily-constructed building this week, as rescue workers pulled 19 survivors out of the rubble on Saturday and vowed to continue as long as necessary to find others despite fading hopes. (AP Photo/Wong Maye-E)

  • Women carry portraits of missing relatives at the site of the garment factory building that collapsed Wednesday, in Savar, near Dhaka, Bangladesh, Saturday, April 27, 2013. Police in Bangladesh took five people into custody in connection with the collapse of a shoddily-constructed building this week, as rescue workers pulled 19 survivors out of the rubble on Saturday and vowed to continue as long as necessary to find others despite fading hopes. (AP Photo/Ismail Ferdous)

  • A man watches while rescue workers search for survivors at a garment factory building that collapsed Wednesday in Savar, near Dhaka, Bangladesh, Saturday, April 27, 2013. Police in Bangladesh took five people into custody in connection with the collapse of a shoddily-constructed building this week, as rescue workers pulled 19 survivors out of the rubble on Saturday and vowed to continue as long as necessary to find others despite fading hopes.(AP Photo/Ismail Ferdous)

  • A Bangladeshi man holds a picture of a relative missing in a building that collapsed Wednesday hold pictures of loved ones at a makeshift morgue in a schoolyard in Savar, near Dhaka, Bangladesh, Saturday, April 27, 2013. Police in Bangladesh arrested two owners of a garment factory in a shoddily-constructed building that collapsed this week, killing at least 324 people, as protests spread to a second city Saturday with hundreds of people throwing stones and setting fire to vehicles. (AP Photo/Kevin Frayer)

  • A Bangladeshi rescue worker directs others as they search in the rubble of a building that collapsed Wednesday in Savar, near Dhaka, Bangladesh, Saturday, April 27, 2013. Police in Bangladesh arrested two owners of a garment factory in a shoddily-constructed building that collapsed this week, killing at least 324 people, as protests spread to a second city Saturday with hundreds of people throwing stones and setting fire to vehicles. (AP Photo/Kevin Frayer)

  • Relatives mourn a victim at the site where an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. The building collapsed near Bangladesh's capital Wednesday morning, killing dozens of people and trapping many more in the rubble, officials said. (AP Photo/ A.M. Ahad)

  • People and rescuers gather after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. Dozens were killed and many more are feared trapped in the rubble. (AP Photo/ A.M. Ahad)

  • People and rescuers gather after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. Dozens were killed and many more are feared trapped in the rubble. (AP Photo/ A.M. Ahad)

  • Rescuers assist an injured woman after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. Dozens were killed and many more are feared trapped in the rubble. (AP Photo/ A.M. Ahad)

  • Rescue workers carry a victim's body after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. Dozens were killed and many more are feared trapped in the rubble. (AP Photo/ A.M. Ahad)

  • Rescue workers look for survivors after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. Dozens were killed and many more are feared trapped in the rubble. (AP Photo/ A.M. Ahad)

  • A man who was trapped in an collapsed eight-story building housing several garment factories is reccued in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. Dozens were killed and many more are feared trapped in the rubble. (AP Photo/ A.M. Ahad)

  • Rescue workers pull a woman out from the rubbles after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. Dozens were killed and many more are feared trapped in the rubble. (AP Photo/ A.M. Ahad)

  • Rescue workers and people look for survivors after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. Dozens were killed and many more are feared trapped in the rubble. (AP Photo/ A.M. Ahad)

  • Relatives mourn a victim at the site after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. Dozens were killed and many more are feared trapped in the rubble. (AP Photo/ A.M. Ahad)

  • Rescuers carry a woman after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. Dozens were killed and many more are feared trapped in the rubble. (AP Photo/ A.M. Ahad)

  • Rescue workers carry a young victim's body after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. Dozens were killed and many more are feared trapped in the rubble. (AP Photo/ A.M. Ahad)

  • Rescue workers use pieces of clothes to bring down a survivor after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. The building collapsed near Bangladesh's capital Wednesday morning, killing dozens of people and trapping many more in the rubble, officials said. (AP Photo/ A.M. Ahad)

  • A man who was trapped in an eight-story building housing several garment factories is rescued after the structure collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. The building collapsed near Bangladesh's capital Wednesday morning, killing dozens of people and trapping many more in the rubble, officials said. (AP Photo/ A.M. Ahad)

  • Rescue workers use clothes to bring down survivors and bodies after an eight-story building housing several garment factories collapsed in Savar, near Dhaka, Bangladesh, Wednesday, April 24, 2013. The building collapsed near Bangladesh's capital Wednesday morning, killing dozens of people and trapping many more in the rubble, officials said. (AP Photo/ A.M. Ahad)