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In this video tutorial by Ivan from SimpleSheets, viewers are guided through the step-by-step use of a contract management template. This template is one of over a hundred pre-built options available, with an invitation to try five free templates before purchasing. The introduction sheet provides a description of the template, definitions of key terms, customization difficulty, and an overview of the sheets included. Instructions for utilizing the template and a guide for using it with compatible online services are also included. The template features a central dashboard designed to help users track contracts with customers, vendors, partners, or employees, starting with the contract database sheet.