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Contract fields in HoneyBook are dynamic and powerful tools that help you customize agreements quickly. By inserting a contract field, you can easily grab information for any project. You have options to select field names that will automatically populate information from existing data in HoneyBook, such as client names, contact info, project dates, etc. Additionally, you can create custom fields by entering a name and selecting the "Add" button. With contract fields, you can efficiently customize your contracts for any project or proposal.