What is a peace treaty? It is a legal agreement between two or more hostile parties, usually countries or governments, which formally ends a state of war between the two parties. Peace treaties are different from other international documents that control conflicts in that they are often the culmination of international peace discussions, and seek permanent resolutions by establishing conditions for peace.
A peace treaty is not the same as a surrender, in which one party agrees to give up arms; or a cease fire, in which parties agree to suspend hostilities temporarily; or an armistice agreement, in which parties agree to stop hostilities, but do not agree to long term conditions for peace.
Peace treaties, while varied, generally have one broad common goal: to outline conditions for permanent resolution of hostilities between two warring parties. To this end, peace treaty provisions tend to address common issues.
These include the formal designation of borders, access to and allocation of natural and manmade resources, settlement of relevant debts, recognition of refugees, processes for solving future disputes, and identification of relevant behaviors for abiding by the treaty’s provisions.