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Address tells where
Binding tell how
Contracts tell what
A - Address : Address tells us where to find the services, like url
B - Bindings : Bindings tells us how to find the services or using which protocols finds the services (SOAP, HTTP, TCP,MSMQ etc.)
C - Contacts : Contracts are an agreement between the consumer and the service providers that explains what parameters the service expects and what return values it gives.
I suggest you to Go thro this below site which will give better idea from bigner to expert on wcf
http://www.wcftutorial.net
cheers
Address, Binding & Contracts. You can read more here.