Lebanese Prime Minister Najib Mikati said on Wednesday that there has been substantial progress and Lebanon is willing to reach a ceasefire based on the implementation of UN Resolution 1701.
"I hope that within the coming hours or days, we will be able to reach a ceasefire. We are making all efforts and are at a more advanced stage than we were yesterday. I hope that tomorrow there will be additional progress."
In the meantime, US special envoy Amos Hochstein is making his way to Israel to tie up loose ends to allow for a deal to be made between Israel and Lebanon within a short time.
In recent days, there were doubts that Hochstein would come to the US before the elections, but it would appear that the issue is not stopping the American administration.
Earlier in the day, Kan News revealed a draft of the proposed ceasefire deal between Israel and Hezbollah.
The main point of the agreement states that Israel and Lebanon would recognize the importance of UN Resolution 1701 and other than UNIFIL, the Lebanese Armed Forces would be the only armed force on the country's southern border.
In addition, per Resolution 1701, to prevent the rehabilitation and re-arming of unofficial armed groups in Lebanon, any sale or production of arms in Lebanon would be overseen by the Lebanese government.
The document also states that Israel will have seven days to withdraw all troops from southern Lebanon, and they will be replaced by LAF troops. The process would be overseen by the Americans.
During the sixty days following the signing of the deal, Lebanon would have to disarm all unofficial militant groups in southern Lebanon.
In addition, the deal would include a clause that Israel would have the right to defend itself against any developing threat if the Lebanese government fails to do so.