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The phrase "extend the contract" is correct and usable in written English.
You can use it when referring to the extension of a contract previously established between two parties. For example, "After much discussion, the two parties agreed to extend the contract for an additional three years."
Exact(60)
The two sides might also extend the contract day-to-day past the Sunday deadline.
M.L.S. also has an option that can extend the contract through 2008.
The Grizzlies have an option to extend the contract another year.
The contract runs through March 2014 and includes a provision to extend the contract for five additional years.
He's had a brilliant season, and we just thought the timing was right to approach him and extend the contract.
I wouldn't be surprised if at the end of December they extend the contract again," Rodríguez said.
Executives on both sides of the negotiations agree that last spring Paramount offered to extend the contract for "Frasier".
MAJOR LEAGUE OWNERS--Voted to extend the contract of Bud Selig, commissioner, for three years through 2009.
"I am willing to extend the contract by an additional week to allow closure on all outstanding matters," Mr. Marchionne wrote.
The company would also extend the contract to a fourth year, with pay raises totaling 11 percent over the four years.
The good thing with me, if I have one quality, you don't need a lot of talks to extend the contract I have".
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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