If you've made changes to your terms and conditions from your Account Settings, this will only apply to projects created from that point moving forward.
Only Account Owners and Admins can create new Terms & Conditions from the Account Settings or within a project.
Here's how you can update the terms on an existing project.
First, navigate to the contract in question.
While in the contract, click the ‘Change’ button next to each available option.
If the contract is signed, click 'Edit Signed Contract' on the project to change the Terms & Conditions.
Select saved Terms & Conditions from the drop-down menu and click 'Save'.
This will update or 'refresh' the terms on this project to the most current version of your terms.