Learn Spanish (Latin America): Este contrato es para el compañero nuevo.

In this sentence, para tells us the recipient of the contract (the new colleague). Whenever you are saying who receives or is meant to have something, you use para.

Why is it Este contrato and not Esto contrato?

Because contrato is a masculine singular noun, the word for 'this' must be este. You only use esto when talking about an unknown object or a general situation, never right before a noun.

Why do we use es instead of está?

When we state who something is for, we use ser (here, es). Even though a physical contract can be moved around, its intended recipient is treated as a permanent fact about it.

Why does nuevo come after compañero?

In Spanish, descriptive adjectives usually come right after the noun they describe. So, 'the new colleague' takes the order of 'the colleague new' (el compañero nuevo).