What is the difference between a marriage contract feast (walimat al-'aqd) and a wedding feast (walimat al-'urs)?

The wedding feast (walima) is a confirmed Sunnah and is recommended after consummation of the marriage. If it occurs before consummation, it is still valid. A feast is not required for the marriage contract (aqd). The Prophet's command and action indicate its Sunnah status. He said to Abd al-Rahman ibn Awf: "Hold a wedding feast, even if it is with only one sheep." It is not obligatory according to the majority of scholars, and its appropriate time is immediately after consummation.