The terms include these, via Deutsche Welle:

• The rights of EU citizens in the UK and UK citizens in the EU will be protected
• EU citizens living in the UK can be joined by close family members…who live in a different country at any point in the future.
• Workers and self-employed people will be broadly guaranteed the same rights they currently enjoy

All of which negate one of the motives for leaving the European Union. EU citizens resident in the UK will be magnets for drawing in others for the UK’s generous welfare system—and EU citizens still will be able to seek work in the UK preferentially, availing themselves both of the UK’s higher wage rates and that welfare system.

• There will be a 21-month transition period ending December 31, 2020
• EU rules would continue to apply in the UK subject to the terms set out in the Brexit agreement
• After the transition period, a joint committee co-chaired by the EU and the UK would police the final withdrawal agreement, taking decisions by mutual consent and whose verdicts would be binding

Meaning that the UK would remain unable to enter into separate, independent trade agreements during this “transition” period EU laws would remain in effect inside allegedly sovereign Great Britain, and the EU will retain veto power, via that mutual consent requirement, on post-transition moves—including those independent trade agreements and moves to supplant EU laws with domestic, UK, laws.

• If appropriate customs arrangements are not agreed to, a backstop arrangement would kick in. A joint “single customs territory” between the EU and UK would apply from the end of the transition period…
• Under the backstop arrangement, the UK must observe “level playing field” commitments on competition, state aid, taxes and employment and environment standards

Are not agreed to means the agreement will be in accordance with EU diktat or there will be the backstop arrangement. This is what the EU wants, so there will be no agreed customs arrangement.  The EU wants the backstop because those terms require the UK to keep its Northern Ireland inside the EU’s competition, state aid, taxes and employment, and environment laws in perpetuity. This is the beginning of prising Northern Ireland out of the UK—the beginning of dismantling the UK.  This is part of the EU’s demonstration to restive members of the EU and a warning of their fate if they become impertinent, too.

The bottom line for the UK here is that, under this “agreement,” these terms of surrender, the nation will become a speechless, toothless satrap of the EU, and its dismantling will be begun.

May, with her abject surrender to Brussels, has betrayed her nation’s referendum.  And she has betrayed other members of the EU similarly dismayed with Brussels’ interference in their domestic affairs.

It’s no wonder that members of her Cabinet are resigning in droves, her coalition government is falling apart, and her own party is in (sub rosa, for now) revolt.