On January 31, 2020, the UK officially left the European Union. However, this was not the end of the story. Instead, it marked the beginning of a transition period that lasted until December 31, 2020. During this time, the UK and the EU negotiated and agreed upon a withdrawal agreement that laid out the terms of the divorce.

The withdrawal agreement is a dense and detailed legal document that covers a wide range of topics, from citizens` rights to the financial settlement. Here are some of the key details of the agreement:

Citizens` Rights

The withdrawal agreement ensures that UK and EU citizens who are resident in each other`s territories will maintain their rights to work, study and access healthcare, social security and public services. The agreement also includes provisions for family reunification and the recognition of professional qualifications.

Financial Settlement

The UK agreed to pay a financial settlement to the EU to cover its outstanding financial obligations. The precise amount of the settlement was subject to negotiation and is estimated to be between £35-39 billion. The payment is spread over several years.

Northern Ireland Protocol

One of the most contentious issues in the Brexit negotiations was the status of the border between Northern Ireland and the Republic of Ireland. The withdrawal agreement includes a protocol that aims to prevent the need for a hard border on the island of Ireland. Under the protocol, Northern Ireland remains part of the UK customs territory but follows some EU rules to enable the free movement of goods across the border.

Transition Period

The withdrawal agreement set out the terms of the transition period that lasted until December 31, 2020. During this time, the UK continued to follow EU rules and regulations, and the two sides negotiated their future relationship, including a trade deal.

Dispute Resolution Mechanism

The withdrawal agreement includes a dispute resolution mechanism to resolve any disagreements between the UK and the EU that may arise during the implementation of the agreement. This mechanism involves arbitration and could result in financial penalties for either party if they fail to comply with the agreement.

In summary, the withdrawal agreement is a complex and detailed document that covers many aspects of the UK`s departure from the EU. While the agreement has been signed and ratified, the ongoing relationship between the UK and the EU remains a work in progress, and many issues will continue to be negotiated in the years to come.