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In this video tutorial, the importance of having a contract as a freelance social media manager is emphasized. It asserts that having a contract is essential, detailing pricing, start and end dates, and cancellation terms. The video will also address who creates the contract, suggesting it is a collaborative effort between the freelancer and client. Additionally, the tutorial will cover the tools needed for sending and signing the contract. A real-life example of a contract used over several years will be shared. Viewers are encouraged to subscribe and engage with the content if they find it useful.