The most common and most likely answer to this crossword clue is the 6 letter word TENSES
I've seen this crossword clue in The Daily Telegraph
T
E
N
S
E
S
Buddy explains!
The straight part
We know that "Past, present and future/contracts?" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case past, present and future/contracts? = tenses.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does TENSES mean?
TENSES noun- (grammar) Any of the forms of a verb which distinguish when an action or state of being occurs or exists.
- (grammar) An inflected form of a verb that indicates tense.
- The property of indicating the point in time at which an action or state of being occurs or exists.
- (grammar) To apply a tense to.
- To make or become tense.