After almost two years of contentious negotiations, the European Union and the United Kingdom have drafted a withdrawal agreement. The 585-page agreement details the regulations of the transition period for both sides after the UK exits the EU in March of 2019.

The deal aims to avoid a hard border between the UK and the EU, but several clauses within the agreement have proven controversial. One of the central points of dispute is the Irish border “backstop,” or the proposed solution to the fear of a hard border between EU member Ireland and Northern Ireland, which is part of the UK.

Key clauses in the draft

The draft covers topics ranging all the way from citizen’s movement across borders to the taxation of regional goods, such as Parma ham. There are, however, five essential stipulations in the agreement that are the most talked about.

Transition period

The transition period is outlined extensively in the draft. Under this agreement, EU customs law will prevail until December 31, 2020 to allow businesses and administrations time to prepare their infrastructure for new regulations. The UK will retain market access to the remaining 27 EU countries during this time, but will lose the right to vote on EU matters upon the exit date, according to the drafted agreement.

Irish “backstop”

The deal outlines a “backstop” arrangement for the Irish border. Should the EU and UK fail to reach an agreement by the end of the transitional period, a single customs territory will be established between Ireland and Northern Ireland. This clause is met with fears that British companies could take advantage of the single customs territory and manufacture and distribute products more cheaply, with access to tariff-free movement to the rest of the EU.

Citizen’s freedom of movement

The draft also guarantees freedom of movement to the more than three million EU citizens presiding in the UK and more than one million UK nationals in EU countries. In other words, citizens can continue to live, work, and move between EU member states freely, at least until a final agreement is reached.

Brexit bill

The Brexit bill within the agreement covers the UK’s divorce from the EU, and the methodology behind the UK’s financial obligation to the EU. Under this bill, the UK must honor all existing financial commitments to the EU programs. The British government estimates this commitment to be about €44 billion.

Joint dispute settlement

Finally, the draft demands that all regulatory, customs, and business disputes must be consulted and settled by a joint EU-UK committee. If no mutual solution can be found, an independent panel will be called upon to settle disputes.

Brexit negotiations are far from over, to say the least. With several contentious clauses argued both by supporters and dissenters of Brexit, major hurdles remain in the way of a “done deal.” Additionally, separately from the draft, the EU and UK must still negotiate their future relationships moving forward, particularly regarding trade.

To read more about the 585 page draft, visit Euractiv’s synopsis, CNN’s key points, or CNBC’s Brexit deal updates.