In asking about the status of my app "Pending Contract", I emailed to:
devcontracts@apple.com and received a reply within the same day. It outlined the two steps required: 1) Legal processing where one clicks through the various agreements and 2) banking and tax info setup. It was a good reply since they confirmed I was done with step #1. However there are a few too many "if's" and "may's" which indicates I'm still in the queue for #2 and my exact status is not clear. They did say that contract processing priority for setup is given to applications that are approved to go live. It can take days or weeks depending on their work load.