The topic of the meeting will be alternatives to FIA president Mosley's cap: such as reductions in wind tunnel use and freezes in the low cost of customer engine offers, according to The Guardian newspaper. It is believed that Mosley is giving the teams until Friday in Monaco - one week before the 2010 team entry deadline - to finalise their proposal.
Alternatively, Mosley suggested that he has left some wriggle-room on the £40 million cap, which already does not include engine, driver, motor home or promoting costs.
"We have a little scope to take other things out," said the Briton.
While the teams are meeting in Monaco on Tuesday, a Ferrari spokesman confirmed that the Italian team will apply for an injunction against the 2010 rule changes in a French court.