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In this video tutorial, Ivan from SimpleSheets provides a step-by-step guide to their contract management template, part of over a hundred pre-built templates available. Viewers can try five free templates through a link in the description. The introduction sheet includes a brief description of the template, key term definitions, customization difficulty, and an explanation of the accompanying sheets. It also offers instructions on utilizing the template and a guide for compatibility with online services. The template features a central dashboard for tracking various contracts with customers, vendors, partners, or employees, beginning with the contract database sheet.