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Hello, I would like to know, why in the contracts we use " I have read and UNDERSTAND this agreement" instead of "I have read and UNDERSTOOD this agreement" Thanks in advance,
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Hello, imane1991—and welcome to English Forums. Thank you for registering as a member.
imane1991 I would like to know, why in the contracts we use " I have read and UNDERSTAND this agreement" instead of "I have read and UNDERSTOOD this agreement"
I suppose because it emphasizes that you now understand it as you sign it. It is of course an elided form of "I have read and I understand...'
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I agree with Mister Micawber. Legal documents often use the present tense:

I hereby affirm ....
On this 23rd day of August ...
Let it be known ...

Contracts (and other legal documents) express the agreement at the time of signing. Using the present tense hints that the parties may change their minds in the future, but this is what they agreed upon at that time.