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In this video tutorial, Ivan from SimpleSheets introduces a contract management template, part of their extensive collection of over a hundred pre-built templates. He encourages viewers to try five free templates before purchasing and to support the channel by liking and subscribing. The introduction sheet outlines the template's features, key term definitions, customization difficulty, and instructions for utilization. Additionally, it provides guidance on using the templates with compatible online services. The primary function of the template is to serve as a central dashboard for tracking contracts with customers, vendors, partners, and employees, starting with the contract database sheet.