Parts of the agreement have been leaked to the media, and the document largely contains information that has already been published. The agreement stipulates that a 60-day period for negotiations begins once it is signed.
Below is a summary of the document.
The settlement begins with the US and Iran ceasing military operations on all fronts, including in Lebanon, and Lebanon's territorial sovereignty secured.
The United States and Iran should respect each other's sovereignty and territorial integrity and avoid interfering in each other's internal affairs.
The US and Iran will continue to negotiate to reach a final agreement within 60 days - with a possible extension if both parties agree.
In conjunction with the signing of the declaration of intent, the United States will begin lifting its blockade and other obstacles against Iran. The blockade will be completely lifted within 30 days, according to the agreement, which then adds that maritime traffic will return to pre-war levels. The United States will withdraw its military forces from Iran's vicinity within 30 days of a final agreement being signed.
The fifth point concerns maritime traffic in the Strait of Hormuz, and that Iran will ensure that the traffic is safe and not subject to fees.
The US pledges in the sixth point to secure, with regional partners, at least $300 billion for reconstruction and economic growth in Iran. The efforts will be determined in further negotiations, and all transactions and permits must be granted by the US.
The United States undertakes to end all kinds of sanctions targeting Iran, including those imposed by the UN Security Council.
Iran reiterates in the eighth point that the country will not acquire or develop nuclear weapons, and that enriched uranium will be diluted under the supervision of the UN nuclear agency, the IAEA. Negotiations on issues related to nuclear energy in Iran are deferred.
Until a final agreement is reached, the US and Iran will maintain the current status quo. The US will not impose any new sanctions and will not strengthen its military presence in the region.
The US Treasury Department allows crude oil and petroleum products to be exported from Iran, and the US lifts bans on services linked to exports, such as banking, insurance and transportation.
The United States is preparing to fully release Iranian assets that have been frozen or blocked. The procedure is to be negotiated between Iran and the United States.
The twelfth point concerns procedures for monitoring the conclusion of a letter of intent and subsequent agreements.
Point 13 states that negotiations will begin on those issues that have not been finalized.
The 14th and final point states that the settlement must be approved by the UN Security Council.
