Contracts are specific tasks players can accept. They range from simple tasks like winning a match, to more complex ones like destroying drones or destroying the same player's ship three times in one match.
Upon completing a contract the player will receive loyalty points with their current subfaction, which can be used to upgrade equipment. Most contracts have cooldowns ranging from one hour to one day before they can be accepted again.
Accepting a contract
First, the player must join a subfaction by signing a "long term contract" with them. This will terminate your contract with your current faction, but they won't hold it against you and you will keep your loyalty points with them.
This will then unlock the normal short term contracts. Each rank you have with their main faction increases the number of contracts they will offer you. In any case, you can only accept 3 contracts at a time (not counting your long term contract).
These are a special type of contract offered by your mercenary trainers designed to familiarise you with the game. They are not considered normal contracts and don't count towards your outstanding contract limit. Tutorial contracts can only be completed once.
List of contracts