The contracts cover the cost of accommodation provided by councils for asylum seekers dispersed under the national asylum support system, and some extra costs.
The north-east region and Glasgow have already signed contracts. The West Midlands, the East Midlands, Yorkshire and Humberside and the western part of the north-west consortia will sign contracts shortly.
Local Government Association asylum seekers support team leader Mike Boyle said: 'These contracts provide councils with much more control over the dispersal arrangements than before.'
Mr Boyle said the LGA would resume lobbying the government for funds if there was a significant shortfall.