Contract review with in-house legal teams or external legal firms is common and, in most cases, organizations use standard vetted templates while entering a business relationship with customers or suppliers.

Organizations will use only the standard legally vetted contract templates when signing up with any vendor or customer but it is possible that standard contract templates of your organization are not accepted by the other party and in turn expect you to agree to their standard template. This is called “accepting third-party paper”. When you accept third party agreements here are some of the issues you are expected to encounter