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In this video tutorial, the importance of having a contract as a freelance social media manager is discussed. The speaker emphasizes the need for a contract, highlighting key elements to include such as pricing, start and end dates, and cancellation policies. The video aims to answer questions about who sets the social media contract and whether tools are needed for sending or signing it. A real-life contract example from the speaker's experience will be shared. The content encourages viewers to subscribe and engage if they find it valuable. Overall, having a well-defined contract is presented as essential for managing client relationships effectively.