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The phrase "a new distribution contract" is correct and usable in written English.
You can use it when referring to a recently established agreement for the distribution of goods or services.
Example: "After months of negotiation, we finally signed a new distribution contract with our supplier."
Alternatives: "a fresh distribution agreement" or "a recent distribution deal."
Exact(4)
BebsiCo and Bakra Beverage are both eager to sign a new distribution contract.
BebsiCo is eager to sign a new distribution contract with the Kumar-based Bakra Beverage, a financially troubled but reputable soft drink distributor.
The News Corporation said on Wednesday that it looked doubtful that it would sign a new distribution contract with Time Warner Cable by Thursday night, increasing the likelihood that its Fox stations will be removed from cable lineups in millions of homes.
DirecTV is no longer carrying the Weather Channel because it couldn't come to terms on a new distribution contract with the network.
Similar(56)
The new distribution contract CBS Corp. signed with Time Warner Cable Inc. last summer after a bitter fight could be a casualty of Comcast Corp.'s proposed acquisition of the pay-TV operator.
Terms of the new distribution contract were not revealed, but CBS Chief Executive Leslie Moonves said in an internal memo reviewed by The Times that the deal delivers "all the value and terms that we sought in these discussions".
In addition, treating Impulse as a new magazine meant a fresh distribution contract was needed.
Negotiations to hammer out a new distribution deal hit a snag Friday — on the eve of the contract deadline, according to the Englewood, Colo.-based Dish Network.
(Mr. Berney has just opened a new distribution company, Apparition).
A vice president of a New York based software company went to Beijing to negotiate a distribution contract with a Chinese research institute.
More than a decade ago he lost an exclusive distribution contract and much of his business disappeared overnight.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com