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In this video tutorial, Ivan from SimpleSheets provides a step-by-step guide on using their contract management template, part of their extensive collection of over a hundred pre-built templates. Viewers are encouraged to try five free templates via a link in the description. The introduction sheet outlines the template's purpose, key definitions, customization difficulty, and instructions for use. It also includes a brief guide on integrating with compatible online services. The template features a central dashboard for tracking various contracts with customers, vendors, partners, or employees, beginning with the contract database sheet.