Israel and Hamas are on the verge of a potential new agreement aimed at securing the release of roughly 130 hostages. The alleged deal involves a week's long pause in Israel's war on Gaza, now in its fifth month.

According to The Associated Press, U.S. President Joe Biden says a deal could go into effect as early as Monday, ahead of what is considered an unofficial deadline -- the start of the Muslim holy month, Ramadan.

A deal would bring some relief to the territory amid Israel's ongoing military assault, siege, and bombardment against the people of Gaza. The Palestinian death toll has reached a nearly staggering 30,000.

Key Features Of The Deal:

A senior official from Egypt revealed a six-week cease-fire must be implemented as part of the potential agreement. Hamas would consent to the release of up to 40 hostages, primarily consisting of civilian women, at least two children, and elderly or sick captives. In return, Israel would release a minimum of 300 Palestinian prisoners currently held in Israeli jails.

Additionally, the Egyptian official negotiating the deal with Qatar and the U.S. stated Israel would permit the return of displaced Palestinians to specified regions in northern Gaza. This area, subjected to extensive damage during the initial ground offensive by Israel, is a focal point in the current discussions.

Aid deliveries would accelerate during the cease-fire, with 300 to 500 trucks entering the besieged territory daily. This is a significant surge compared to the below-average number of trucks that were unable to cross the Rafah border due to strict Israeli orders and Israeli protesters objecting to the arrival of food and aid.

Deliveries across Gaza are to be facilitated by Israel, whose forces would allegedly try to refrain from attacks on the police escorting the aid convoys, said the official, who spoke on condition of anonymity.

Despite Biden's optimistic perspective, both parties maintain a defiant stance leading up to any potential final agreement, even as discussions continue in Qatar. Officials from both Israel and Hamas have played down any indications of progress in the ongoing talks and have previously dragged out negotiations displaying any momentum.

During the temporary cease-fire, the parties would negotiate toward an extension of the deal that would see the release of all female soldiers in exchange for a higher number of imprisoned Palestinians, disclosed the AP.

After the female soldiers, Israel will seek to free male soldiers for whom Hamas will likely demand a high price.

Israeli Prime Minister Benjamin Netanyahu has made it clear on more than one occasion that he will not agree to a deal at any cost. However, families of the hostages are likely to intensify mounting pressure on Netanyahu should the others be freed.

The U.S. is hopeful the new deal will serve as a launching pad to its vision for a postwar Gaza that would eventually lead to the establishment of a Palestinian state. It said it wants Gaza to governed under a restructured Palestinian Authority, which "oversees" part of the Israeli-occupied West Bank.

Israel wants to force its security control on the Gaza Strip and, continues to reject interference from world leaders, and ignores international law as Netanyahu deems Israel immune.