Explanation of Formal Engagement

The formal engagement is an old tradition which started with arranged marriages. While people do still have arranged marriages and this tradition does stand true both of our parents insisted on us doing it.
There is a small prayer done at a church with a reception afterwards. Normally only family and the closest of friends are invited. In our case, we had 110 people in attendance. It is where you announce to everyone when the wedding is and there is an agreement signed from the two fathers the wedding will be on such day, at such time, at such a place. Two witnesses will also sign it, one from his side one from mine, and our priest.
It's all cultural not religious. If it makes our parents happy we are willing to do it. Since this is like a mini wedding I will post pictures and things up after wards. If anyone wants me to post any of the prayer, translated to English, or the agreement I can do that. I would just have to figure out how! lol

Online definition:
The parents of the bride usually host the engagement party. The parish priest conducts the engagement ceremony. The ceremony consists of a brief prayer service. The couple exchanges engagement rings that have been blessed by the parish priest. The ceremony over, there is a small celebration in the form of a formal dinner or cocktail party.