How to create the Contract without setting up part as supplier or Customer

Summary:

Hi Team,

Our customer has requirement to create a contract against a party where they do not want to create them as supplier or Customer.

The use case is legal department want to create a contract where party may not be a supplier or customer. So would like to know if there is work around where we can create the standalone party and use them for contract creation.

The supplier creation is a long process and it involved finance and Supply chain team to approve the supplier creation. Hence, they want to find an option where they create the party for which contract can be created.