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"the contract is not binding" is correct and usable in written English
You can use it when you want to explain that a contract is not legally enforceable. For example, "The contract between the two companies is not binding since it was never signed."
Similar(60)
The advice on the drafting of the contracts was not binding, he said, and sometimes the ministry chose to ignore it.
"The traditional rule at common law," says Peter Cartwright, a professor of consumer law at Nottingham University, "is that if one party has made a mistake as to the terms of the contract and the other party knows of that mistake, the contract is not binding .There is also the question of whether the contract had already been formed.
The recommendation is not binding.
The report is not binding.
The process is not binding.
But the code is not binding.
The resolution is not binding.
But the EU code is not binding.
But the Paris agreement is not binding.
"But changing the contract isn't enough.
The board's vote is not binding.
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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