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The main difference between treaty and executive agreement is that treaty is a formally concluded, ratified and binding agreement between sovereign states and/or international organizations while an executive agreement is an agreement between the government heads of two or more nations.
Treaty: An international agreement that receives the advice and consent of the Senate and is ratified by the President. Executive Agreement: An international agreement that is binding, but which the President enters into without receiving the advice and consent of the Senate.
An executive agreement is an agreement between the heads of government of two or more nations that has not been ratified by the legislature as treaties are ratified. Executive agreements are considered politically binding to distinguish them from treaties which are legally binding.
Distinguishing Treaties From Executive Agreements Under U.S. law, the term treaty is reserved for international agreements submitted by the executive branch to the U.S. Senate for its advice and consent. Only if the Senate ratifies a treaty by a two-thirds majority may the treaty enter into force.