Parties enable players to complete quests faster, level with friends, participate in higher-difficult dungeons, and tackle elite bosses together. It also allows players the opportunity to socialize in a group setting in a semi-private chat.
Creating a party
To invite someone to a party, either right-click on the character and select "Invite" or they can be invited from your social window (H key)/the chatbox in the same manner. If you do not wish to receive party invites from others, it is possible to disable it in your game's options.
Open your Options
Go to the Settings tab
Click on Misc.
Under the section for auto-declines, check the box that says Team Invites
Click either Apply to Account or Apply to Character
Exit out of the Options
Party rules can be set by opening the party window (P hotkey) and clicking on the Config button.
There are several different categories that you can change in regards to the rule options.
Item distribution is decided in two parts; how the item is going to be divided up amongst your team, and the grade the item has to be in order for your partymates to have to gamble for it.
Round Robin - distributes items evenly to all team members.
Manual Pickup - Anyone can pick up the items.
Loot to Team Leader - All loot goes to the person that is the leader of the party.
Magic or Higher - items of a magic grade or higher will be up for grabs to anyone in the party.
Rare or Higher - items of a rare grade or higher will be up for grabs to anyone in the party.
Unique or Higher
Loot settings indicate the manner in which the items, the grade you decided on, will be divided up amongst your party members.
Instant Auction - Members bid on the item in increments specified in the party rules.
Dice - Players roll a dice and get a number from 1-100. Highest number gets the item.
Class-specific - If a piece of gear drops, anyone in the party that is that class will automatically acquire the item, unless more than one player of that class is in the party. In that case, they will have to roll the dice to determine who gets it. In the event that a piece of gear drops that belongs to a class not in the party, the item will be given to someone at random.