Sinn Féin has expressed concern at a lack of concrete proposals on demilitarisation in the peace plan presented by the two government's earlier this week.
The party's ard comhairle is meeting in the Co Louth town of Castlebellingham to discuss the proposals aimed at preventing the collapse of the Belfast Agreement.
Although a statement is expected at lunchtime a source said it was unlikely the party would unilaterally accept or reject the proposals this afternoon.
"People have come here with an open mind to discuss their concerns but there is unlikely to be a verdict today", the source added.
On his way into the meeting, MLA for Newry/Armagh Mr Conor Murphy, said his constituents were concerned by the lack of concrete proposals on demilitaristion.
He said entering the meeting: "at first glance, I am not impressed by what I see on demilitarisation. The British government three years ago promised us a schedule for demilitarisation and they have yet to produce it. I don't see it in this document. I don't think it will impress the people of South Armagh."
Sinn Féin leaders will meet with the Northern Ireland Secretary Dr John Reid tomorrow morning for further discussions.
SDLP Assembly members are also meeting to consider the Irish and British government proposals.
All parties have four days to deliver their verdict on the governments' package which covers the scaling down of British army bases and military activity, the political institutions, criminal justice reform, inquiries into controversial killings and the future of the Parades Commission.
Nationalists are still waiting to see the British government's revised implementation plan for policing, and unionists are demanding a statement from the IRA on decommissioning before they endorse the overall package.
Dr Reid has begun a series of briefings with the parties on the governments’ policing plans - seen as crucial to any move by the IRA on disarmament.
With republicans arguing the IRA will only put its arms beyond use within the context of full implementation of the Belfast Agreement, Sinn Féin is anxious the policing plan will address the 20 areas of concern they have identified in the Police Act.
A Sinn Féin source said: "The document has whetted our appetite. But the real meat in the sandwich will be the implementation plan on policing."
The SDLP, which has withheld its endorsement of the new police service, is also anxious to see the implementation plan before it decides whether to nominate party members on to the 19-member Policing Board. Additional reporting PA
