One of the most known tool for creating API contracts is no doubt: Swagger Editor by SmartBear, in fact if you go to https://swagger.io you will discover very interesting solutions. They also have solutions to render your API Contract, and also a very interesting way to use Code Generators, either for your API server side and also client side.
After several projects and consulting engagements, we decided to use a free solution called Stop Light:
We decided to use this tool, simply because we can promote very collaborative sessions with our customers and then define together how we will define the API, exactly which kind of data it will expose, as well as which methods, parameters and in the end, we can check the generated Swagger/OAS file in a very two-way effective manner.
Here you can get more information as well as to download that tool for your specific OS.