when I send or receive tracks I send the raw, un-effected wave, and I ask for the same.
This way, the track is the raw basic track that was recorded. I, or the other studio, then have the option to massage the track(s) as is needed for the song project, without having to work with (for example) a reverb that is too strong, or an overly compressed track.
Even though a track may not sound the best in raw wave form its always the best way to send them.... unless the other party specifically says you can fx the tracks. One example might be to fix a vocal track with melodyne if the other studio doesn't have ME.