The main provisions of the withdrawal agreement are: the agreement defines the goods, services and processes associated with them. Any provision of goods or services legally put on the market before leaving the EU may be made available to consumers in the UK or in the EU Member States (Article 40-41). This triggered Article 50 of the Treaty on the European Union, which defines the procedure for the withdrawal of an EU member state, thus opening a two-year countdown to withdrawal. The EU withdrawal agreement is a legally binding document. It contains conditions for the UK`s withdrawal from the EU of more than 500 pages, including the first agreements on citizens` rights, the UK`s financial commitments to the EU and the Northern Ireland Protocol, which establish provisions for maintaining an open border on the island of Ireland. The withdrawal agreement was adopted by the European Council on 19 October 2019 in its final form, which was confirmed in the declaration that a political agreement had been reached and that the United Kingdom had reached an agreement with the European Union in accordance with Article 50, paragraph 2, of the Treaty on European Union. The agreement also provides for a transitional period, which will last until 31 December 2020 and can be extended by mutual agreement. During the transitional period, EU legislation will continue to apply to the UK (including participation in the European Economic Area, the internal market and the customs union) and the UK will continue to contribute to the EU budget, but the UK will not be represented in EU decision-making bodies. The transition period will give businesses time to adapt to the new situation and the new era, so that the British and European governments can negotiate a new trade agreement between the EU and the UK.   On 19 October, Parliament also declared that a political agreement had been reached. The withdrawal agreement provides for a transitional period until 31 December 2020, during which time the UK will remain in the internal market, to ensure the smooth flow of trade until a long-term relationship is concluded. If no agreement is reached by then, the UK will leave the single market without a trade deal on 1 January 2021. The withdrawal agreement is closely linked to a non-binding political declaration on future relations between the EU and the UK.
The declaration on the future relationship between the European Union and the United Kingdom, also known as the Political Declaration, is a non-binding declaration, negotiated and signed at the same time as the mandatory and broader withdrawal agreement on the uk`s withdrawal from the European Union (EU), known as Brexit, and the planned end of the transition period. The withdrawal agreement consists of 185 articles, three protocols and nine annexes. The agreement is divided into six parts. The withdrawal agreement also includes a protocol on the UK`s basic sovereign territories in Cyprus and a protocol on Gibraltar, which provides for the specific issues raised by the UK`s withdrawal from the EU with regard to Gibraltar.