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In this video tutorial, the presenter shows how to edit a contract template on Remote Pass. First, open a pending contract and click on the "edit template" button to access the smart editor. Users can customize the template by adding or editing sections, using available placeholders for dynamic templates. It's possible to search for placeholders by typing the "add" sign, as well as delete and reorder sections. After editing, click on "save changes," name the template, and save it. These changes will automatically apply to the contract, and users can preview the updated template in their browser or download a PDF. The new template will be saved for future use on their profile.