Trust is about being vulnerable to another party, confident that openness will not be exploited. Matters of trust in industrial relations are poorly researched, especially in the Swedish context. This study enhances our knowledge and understanding of trust in industrial relations by exploring how social partners in Sweden perceive and experience trust. Drawing on qualitative data, the study shows how interpersonal/interactional-based trust is established through formal and informal channels, is stabilised by institution-based trust and the long tradition of collective bargaining, as well as mutual recognition of differing perspectives. Trust places higher demandson good personal behaviour, emphasising integrity and benevolence.