There is an arbitration¹ clause in the contract. (or insurance clause, inspection² clause, shipping³ clause...)
这是合同中的一项仲裁条款。（或：保险条款，检验条款，装运条款等）
We sincerely hope that both quality and quantity are in conformity⁴ with the contract stipulations.
我们真诚希望质量、数量都与合同规定相吻合。
The contract states that the supplier will be charged a penalty if there is a delay in delivery.
合同规定如果供货商延误交货期，将被罚款。
The contract comes into effect today, we can’t go back on our word now.
合同已于今日生效，我们不能反悔了。
Once the contract is approved by the Chinese government, it is legally binding⁶ upon both parties.
合同一经中国政府批准，对双方就有了法律约束力。

We always carry out the terms of our contract to the letter and stand by what we say.
我们坚持重合同，守信用。
You have no grounds for backing out of the contract.
你们没有正当理由背弃合同。
In case one party fails to carry out the contract, the other party is entitled to cancel the contract.
如果一方不执行合同，另一方有权撤消该合同。
This contract will come into force as soon as it is signed by two parties.
合同一经双方签定即生效。
Are you worrying about the non-execution of the contract and non-payment on our part?
你是否担心我们不履行合同或者拒不付款？
You cannot cancel the contract without first securing our agreement.
如果没有事先征得我们同意，你们不能取消合同。

We signed a contract for medicines.
我们签订了一份药品合同。
A Japanese company and SINOCHEM have entered into a new contract.
中国化工进出口总公司已经和日本一家公司签订了一份新合同。
I know we (the seller) should draw up a contract and the buyer has to sign it.
我们知道我们（卖方）应该拟出一份合同，买方必须签署合同。
We both want to sign a contract, and we have to make some concessions⁷ to do it.
我们都想签合同，因此双方都要做些让步。
Our current contract is about to expire, and we’ll need to discuss a new one.
欧文们现有合同快要期满了，需要再谈一个新合同。

We ought to clear up problems arising from the old contract.
我们应该清理一下老合同中出现的问题。
Do you always make out a contract for every deal?
每笔交易都需要订一份合同吗？
These are two originals of the contract we prepared.
这是我们准备好的两份合同正本。
We enclose our sales contract No.45 in duplicate.
附上我们第45号销售合同一式两份。
May I refer you to the contract stipulation⁵ about packing (or shipping....)?
请您看看合同中有关包装（装运）的规定。