The company won a multi-million-dollar 'contract' to build a new courthouse. = The company was awarded a multi-million-dollar 'contract' to build a new courthouse.
The company 'contracted out' its manufacturing jobs. [=the company paid another company to do its manufacturing jobs instead of doing them itself]
If he breaks the 'contract' [=if he does not abide by the agreement], he will get sued.
(..) ...perhaps you remember. - This doesn't help, Alastor. Leave this to you, Barty. The rules are absolute. The Goblet of Fire constitutes a binding magical contract. Mr. Potter has no choice. He is, as of tonight... ...a Triwizard champion. This can't go on, Albus. First the Dark Mark. Now this? (..)2005 Harry Potter and the Goblet of Fire