The agreement sought to limit naval forces in the Great Lakes region to avoid an arms race between the two nations.
- It stipulated that each country could maintain only four armed vessels on Lake Ontario, two armed vessels on Lake Champlain, and one armed vessel on the Upper Great Lakes.
- The agreement also included provisions for the dismantling of fortifications and the decommissioning of warships on the lakes.
This treaty has been widely regarded as a successful example of arms control between two nations and remains in effect to this day.