When doing contracts, if you click “find contract work” before the contract is completed(but you will complete it if you don’t click to pause) it will still show the contract you’re on right now and will allow you to do it again with no penalty, which allows you to get as many research points as possible. It’s usually about 6-20 design or technology points away from finishing to be able to do it.
So to sum things up, it allows you to do the same contract over and over again, not for money but research points since you don’t actually complete it when you do this.
Just tested this. I can confirm.
If you open the context menu just before the last bubble goes in the pot for the contract you can reselect it and restart the contract.
Unless you can’t finish the contract to begin with, no I don’t get a failed contract message. I think it only works if you’re going to finish the contract.