contracting parties

基本解释

The military and military technology cooperation of the contracting parties carried out in accordance with the relevant agreements are not directed at third countries.
缔约双方根据有关协定进行的军事和军技合作不针对第三国。
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In accordance with the current agreements, the contracting parties shall adopt measures to increase trust between their militaries and reduce military forces in the border areas.
缔约双方将根据现行的协定采取措施，加强边境地区军事领域的信任和相互裁减军事力量。
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This Treaty neither affects the rights and obligations of the contracting parties in other international treaties of which they are a party to it, nor is it directed against any third country.
本条约不影响缔约双方作为其它国际条约参加国的权利和义务，也不针对任何第三国。
www.fmprc.gov.cn

Unpacking this, it means that any losses on CDS contracts have already resulted in cash moving between the contracting parties.
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Contracting parties could go without coverage or specify private adjudication.
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Since banishment would be a death sentence for many businesses, that could make adjudication a robust enough option for contracting parties to consider opting out of the federal levy if it became overly burdensome.
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