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In this video, the presenter demonstrates how to edit a contract template using RemotePass. To start, open a pending contract and click the "edit template" button. This opens the smart editor, where users can customize the template by adding or editing sections through the blue text area. Available placeholders can be accessed by typing the "add" sign, allowing for dynamic templates. Users can also delete or reorder sections. After editing, click "save changes," assign a name to the template, and save it. Changes will automatically apply to the contract, and users can preview or download it as a PDF. The new template is saved in the user’s profile for future use.