A bilateral treaty (also called a bipartite treaty) is a treaty strictly between two state entities. It is an agreement made by negotiations between two parties, established in writing and signed by representatives of the parties. Treaties can span in substance and complexity, regarding a wide variety of matters, such as territorial boundaries, trade and commerce, political alliances, and more. The agreement is usually then ratified by the lawmaking authority of each party or organization.[1] Any agreement with more than two parties is a multilateral treaty. Similar to a contract, it is also called a contractual treaty. As with any other treaty, it is a written agreement that is typically formal and binding in nature.[2]