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

Introduction of new clauses that you do not expect to see
Minor to major changes in the language across the contract clauses
Termination terms not in line with your expectations
The contract is set to renew automatically after the completion of the initial term
Not just the above-listed issues, depending on the contract you accept there could be many other deviations from your standard legally vetted templates.