Definition, Meaning & Synonyms

contracting-party

Noun

/kənˈtræktɪŋ ˈpɑrti/

Definition

A contracting party is an individual or entity that enters into a contractual agreement with another party.

Examples

The company and the employee are contracting parties in the employment agreement.
All contracting parties must adhere to the terms specified in the contract.

Meaning

In legal terms, a contracting party is someone who is bound by the terms of a contract. This term can refer to a person, corporation, or organization that has agreed to the obligations and rights set forth in the contract.