This agreement resolves definitively the remaining impasses of the border dispute. It addresses through various sub-agreements the issues of commerce, navigation of waters, the administration of the Zarumilla Canal, border demarcation and the establishment of a comission for confidence and Security. The countries also reject the use of war and violence against each other. 

This agreement seeks to implement the Interim Agreement on the West Bank and Gaza Strip of 28 September 1995 and subsequent agreements. The agreement calls for the transfer to the Palestinian side over 13% of the West Bank. The Palestinian side agrees to take all actions to prevent acts of terrorism, crimes and hostilities directed at the Israeli side. The parties also agree to enhance economic cooperation and resume permanent status talks.

This agreement establishes confidence-building measures to be carried out by the parties. These  measures include a broad range of concrete steps in the following major areas: political statement, ensuring security, return of refugees, economic cooperation, cultural and humanitarian interaction.

The Lizarra-Garazi Accord was signed on September 12, 1998, by 23 Basque nationalist parties, labor unions, and grassroots groups, and Spain's communist-led United Left (IU). It was not accepted by the Español government. 

The parties commit to pursue peace negotiations on the substantive issues as soon as possible and to continue the negotiations until a negotiated political settlement is reached. It also establishes the principles of peace.