OTTAWA -- Canada Post has issued what it calls a "time-limited" contract offer to its employees in hopes of ending rotating strikes that have created a historic backlog of undelivered parcels.

The offer came just hours after online sales and auctioning giant eBay called on the federal government to legislate an end to the Canada Post contract dispute.

The Crown corporation's four-year offer, provided to The Canadian Press, includes annual two-per-cent wage hikes, plus signing bonuses of up to $1,000 per employee.

The $650-million proposal also includes new job-security provisions, including for rural and suburban carriers who have complained about precarious employment, and a $10-million health-and-safety fund.

But Canada Post says it's only affordable if it can be agreed to before the holiday shopping rush, so it has imposed a deadline of Saturday, Nov. 17 for Canadian Union of Postal Workers members to accept the deal.

The prime minister warned last week that his government would look at "all options" to bring the labour dispute to an end if there was no significant progress in Canada Post's contract talks with the union.