Please note this is NOT legal advice, and alone should not be used to draw up a contract! Always seek the advice of an attorney, preferably one familiar with surrogacy law in your area. While any document signed by two parties can be considered a contract, having a professional review yours will help make sure you've stayed within the laws of your area and that you've not left something important out.
Intent: The contract should state the intention of both parties (the surrogate and the intended parents) to produce a child for the Intended Parents and how it will be done, and that both parties are entering into the agreement without coercion. This is especially important in the rare instance that the surrogacy results in some sort of custody battle - it shows that the surrogate knew what she was involved in and chose to partake of her own free will (again, do remember, you can't decide the custody of a child simply by contract and if a complaint arises, the courts will rely on family law above the contract, but showing clear intentions of doing a surrogacy will help keep clear that this was a planned choice).
Compensation: This is, perhaps, what most people think of first when it comes to the contract. The contract should spell out not just how much compensation the surrogate will receive for carrying the intended parents' child; it should also address how - at what intervals, what will happen in the event of a miscarriage, etc. Will the surrogate receive her compensation split into smaller portions, if so, how much comes when. Will there be a fee for insemination attempts or IVF transfers? Is there additional compensation for any events, such as a c-section, an amnio or CVS test, a d&c or abortion if necessary? Those details should be in the contract. Also, how the money will be paid should be in there - will the Intended Parents set up a trust fund (a common way of handling the finances so the surrogate is SURE the money is there from the start), a joint account of some type, or simply pay out of pocket.
