After years of negotiations, the United Kingdom and the European Union finally agreed on the Withdrawal Agreement, which outlines the terms of the UK`s departure from the EU. While the agreement is lengthy and complex, there are several key points that are worth knowing.

1. The transition period: The withdrawal agreement outlines a transition period that will last until December 31, 2020. During this time, the UK will continue to follow EU rules and regulations, but it will no longer be a member of the EU. The transition period can be extended for up to two years if both the UK and the EU agree.

2. Citizen`s rights: The withdrawal agreement provides protections for EU citizens living in the UK and UK citizens living in the EU. These protections include the right to continue living and working in their current country of residence, access to healthcare and social security benefits, and the ability to bring family members with them.

3. Financial obligations: The UK will continue to pay into the EU budget until the end of the transition period. It will also be required to contribute to certain programs and projects, such as the EU`s research and development fund, until the end of 2020.

4. The Irish border: One of the most contentious issues in the Brexit negotiations was the question of how to handle the border between Northern Ireland (part of the UK) and the Republic of Ireland (an EU member). The withdrawal agreement establishes a “backstop” arrangement that would maintain an open border between the two countries if a permanent solution cannot be found.

5. Future relationship: The withdrawal agreement is only the first step in the Brexit process. The UK and the EU will need to negotiate a new relationship that covers trade, security, and other issues. The withdrawal agreement provides a framework for these negotiations, but the specifics of the future relationship are still to be determined.

Overall, the Withdrawal Agreement is a complex and detailed document that will have far-reaching implications for the UK and the EU. While there are still many unanswered questions about the future relationship between the two entities, the agreement provides a starting point for negotiations and a path forward for Brexit.