List Template (Customization Policy)
Contains a set of customizations from a base list structure, packaged by the client as an .stp file. A list template should not be confused with a list definition, which is a server file system-based .xml file.
Real World Example
A team develops a customized list structure based on a base list design and needs to share this structure with other teams. A site designer exports the list to a template package that can then be installed on other sites and used when creating lists.
Similar to site templates, a list template is a package of customizations for a single list structure, saved as an .stp file. A list template contains the files, views, fields, Web Parts, and, optionally, the content that is associated with a list. Users create list templates on the Save as Template page for a list, or through code that uses the SaveAsTemplate method of the Microsoft.SharePoint.SPList class. When saved, list templates are stored in the List Template gallery of the top-level Web site in the site collection, where they become available to all sites in the site collection that derive from the same site definition and in the same language as the site on which the list was originally created. To make a list template available to a site in another site collection, the template must be downloaded from its current gallery and then uploaded to the gallery of the new site collection.
List templates have similar support requirements to site templates.