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"finalization of the contract" is a correct and usable phrase in written English.
It refers to the last stage of completing a contract or agreement, when all parties have agreed upon the terms and signed the document. Example: The finalization of the contract was delayed because of disagreements over the payment terms.
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The concrete works were completed with the finalization of the contact injections between barrage and rock applying specifically developed materials.
Seasoned educator Jim Riggs will replace Dawn Lindsay starting next week, pending the finalization of his contract, board President Armine Hacopian announced Monday.
All authors contributed in the finalization of the manuscript and have approved the final version.
The final step included discussions among representatives from 26 organizations, which led to the finalization of the list.
all contributed to, and took part in writing and discussions towards, the finalization of the manuscript.
As a result, the finalization of the aid package may not leave either side feeling especially satisfied.
Z.R., P.D. and J.O.F wrote the manuscript, and all authors took part in discussions towards the finalization of the manuscript.
Despite the president's public fulminations, inside the cramped offices of the West Wing, aides have exhibited an unexpected nonchalance about the impending finalization of the Mueller inquiry.
The finalization of the rules was the latest step in what has become an exceptionally long process to breathe life into the JOBS Act.
"1.5 degrees is the new 2 degrees," said Jennifer Morgan, executive director of Greenpeace International, who was in Incheon for the finalization of the report.
All authors contributed to revision and finalization of the manuscript.
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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