Contract for the Web

#1

What is contract for the web ?

#2

That is explained here: https://contractfortheweb.org/

#3

I have seen this website before but would like to know in detail if anyone knows about it.
Is this the official site of “Contract for the Web” ?
Anyone knows about it as such what it is about or when it is being released officially or still the work is going on, some detailed notes on it etc.