Contract Party (or parties)
When you enter into a contract, you and the other party or parties to the contract are known as the “contract parties.” The contract parties are the people who have agreed to be bound by the terms of the contract.
The term “party” can refer to an individual person, a group of people, or a legal entity such as a corporation. A party can also be referred to as a “signatory” if they have signed the contract.
If you’re entering into a contract with another person or entity, it’s important to know who the other party is. You’ll need to know how to contact them if there’s ever a problem with the contract, and you’ll want to make sure that they’re able to fulfill their obligations under the agreement.