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In this tutorial by Ivan from SimpleSheets, viewers are guided through a contract management template, part of their collection of over a hundred smart templates. The video highlights how users can try five free templates before purchasing. The introduction sheet outlines the template's description, key terms, customization difficulty, and instructions for use. It also provides a guide for utilizing templates with compatible online services. The main feature of the template is a central dashboard that helps users track various contracts they have with customers, vendors, partners, or employees, starting with the contract database sheet. Viewers are encouraged to like and subscribe for more content.