Jay Treaty is more simple - it finalized our arrangement with Great Britain following the Revolutionary War.
It set the Canadian Boundary to be exact instead of fuzzy, forced the British to withdraw troops from British forts that were now on American soil and established rights of limited trade with British Caribbean colonies.
In exchange, debts owed to British creditors by American debtors would have to be paid and there was to be a cap on how much cotton the US could export.
The treaty had a 10 year term as the negotiator of the treaty, Chief Justice John Jay, hoped to be able to dramatically expand the scope of alliance and trade at that time.
This treaty bitterly divided the country but primarily the South whose wealthy landowners were the primary debtors to the British and whose cotton exports were curtailed while the removal of British troops from New England and the Middle States was very popular.
It was this move along with the Whiskey Tax that led to Jefferson's resignation and the founding of the Democratic Republican Party.